Insider spoke with four real-estate investors who got started without much cash upfront. Buying a home may be more attainable than you think.
They closed on a $191,000 home in North Carolina, where they were living at the time, in September 2006 and spent just $2,000 upfront. They encourage first-time buyers to understand the resources that may be available to them. You could qualify for down payment assistance, which could allow you to purchase a property with little-to-no money out of pocket, as long as you can provide proof of a good credit score.Ludomir Wanot lives with his girlfriend in Tacoma, Washington.When Wanot decided he wanted to buy real estate, he didn't have consistent income to show lenders nor did he have a lot of savings.
It was a $53,000 two-bedroom townhouse that he financed with a three-year adjustable-rate mortgage and 10% down payment. , got started with $8,000 in savings. It wasn't enough to buy a place on his own, especially since he was living in an expensive market , so he went in on his first property with a friend.
That is awesome, didn’t know if this was possible..
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