One of the main reason that most people do not invest in real estate is he or she claims to be no money. The first impression for real estate is "expensive". So, how could we invest in real estate without money?
Yes, there are deals out there that is no money down. For example, you can loan to 100% for buying a property at bargain price relative to its market value. Yet, the point that i try to bring out here, it is not the no money problem that is concerned. It is the lack of money management skill that is matter. What make you think that you be able to run the deal, if you could not manage your own budget? What make you think that you can manage the property well financially , if you could manage your own personal financial. Here is why, i personally believe that why bank require down payment for every mortgage you apply. The down payment is kind of justification or prove that you are in the context of well self-managed financially. It is not the deal that make people rich, it is skill on "how to" that make people rich.
The bottom line, if you could not raise up your own initial down payment to invest in real estate, stay out of any investment deal first. Learn to discipline yourself to manage your own financial before starting to invest. If you could not manage yourself well, your self personal management problem will be transferred to any deal you invested in. "Idiot will always an Idiot regardless what he or she invested in!"
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