View all Local Real Estate forums. So I just wrapped up reading Robert G. Allen's book "Creating Wealth", and I was really intruiged by his methods of financing his deals. He is really trying to drive home the point of finding win, win deals with as little money down as possible using seller financing. But my question is, how often can you come across these deals? Is it really possible to buy property with no money down? Im assuming there is a level of complexity that goes on in finalizing these deals..

I personally have sold with no down deals on my OREO.. I was out of state and just wanted nothing more to do with managing PM or tenants so preferred to sell.. But I usually get a token down..

I have sold a few of my OREO on BP with as little as 2 to 3k down and I carried the contract.. But you have to hunt for them. And as markets tighten up those dry up. Yes those those deals are possible, but not very common. The only ones I have done involved very motivated Sellers and to be honest the deal was not very good, but it was a nice house. However in 13 years it will be paid off. Awesome, so I know its possible, but now my other question is how does it work exactly?

Does the seller have to own the property outright?

7 Ways to Build Financial Wealth | Rich Dad Coaching

Or does does it become what i think Robert referred to in the book as a ballon payment? The process seems somewhat complicated.

I could write a book on al the methods you can buy.. In all fairness I wrote one for Australians on the perils of buying in ghettos in the US.. Getting nothing down deals that give you a negative cash flow is a really bad.

Allen found this out the hard way. His deals tended to be little or nothing down, but he hemorrhaged cash on each one.

His nothing down deals were cool to write about, and he sold a lot of books. However that didn't save him from filing bankruptcy in He's continued to speak and write books since. He'll give a speech for a fee and still sells his books.

But if you're going to do deals like him, make sure you understand just how awful monthly negative cash flow is. No investor can continue to grow with it. Even if you're a best selling author. I found myself at Mr.

No Money Down Real Estate eBook FREE | Real Estate Contract Forms and Rental and Lease Agreements

Allen's home at a BBQ several years ago. Not surprisingly, my other real estate friends and I had all researched ownership of his house before the party.

Title not in his name. As to no money down, sure it's possible. The odds are good that the goods will be odd. But the fact is, you'll occasional find a deal where down payment just isn't essential to make the deal.

It's possible and so much more, open up your mind, read and research here and anywhere else you can. Find something you will enjoy and give it a try. We all love real estate here and most can give you great stories about what we have done.

Robert Allen also wrote another more famous book, "Nothing Down". I have heard him speak in person several times. The first 11 houses that I bought were all essentially nothing down deals, because I did not have any money to put down. I used first mortgages, second mortgages, signature loans, and loans from friends and family. Two of the houses I even brought in a partner. The sources of the properties that I bought were really varied, of the first 11 only 3 were from the multi-list.

Wade Cook, Peter Fortunato, the late Jack Miller, and John Schaub all contributed. The late Barney Zick was my best teacher of notes and private money marketing. If you read the right books and implement, "thinking outside the box" with real estate, solving problems for buyers and sellers, you will excel. NMD deals were more out there in the down markets years ago. The sellers just didn't want to deal with the asset day to day so you were buying yourself a job taking it on.

The upside was when the market cycles your hard work would be rewarded with an equity gain with selling price increase. Today there is so much capital these deals are not easily found.

Too many people with money out there ready to do deals. Even on the commercial real estate side I have many buyers with capital ready to play that have been sitting on the sideline for years waiting for the opportune time.

OZ real estate is the same as the SF bay area.. Same in OZ in the bigger cities.. Average little bungalow there is to k They are RE nuts. They also got sucked into buying cash flow rentals in the Mid west by the thousands by the same marketing companies that hit up Socal investors and investment clubs..

Virtually all of them over the last 5 to 7 years have gone to OZ for presentations and have hooked up with OZ marketing guys.. Who many in the way of Ethics make our marketing folks look like choir boys Many would buy homes that never got rehabbed or ever got rented And of course they all paid cash and then you think investing out of state is risky try it from 12 thousand kilomiters away and there night is our day.. Plus they have the same experience a solid CA rental will have People pay the darn rent and stay for years.

So I wrote a little E book on how to do proper due diligence etc.. Over there there is no Zillow Truila,, and so investors rely on RE agents and Notaries to do title search's. WEre here in the US we have so much info at the computer. And these OZ are intelligent hard working and very cashed up investors.. But they just did not know what they did not know plus they believe everyone they have no clue as to what a hustler in Detroit or Philly is like.

Rents are all auto paid first of the month if you don't have your rental check in your in default. Just a foreign concept. But these are cash flow investors they would not even consider a Neutral or negative gear..

So they did not buy in CA OR WA The other way to look at No Money Down deals is to think of it as none of your money. If you buy a distressed property and quick flip it to a rehabber you can use private money real private money, not the fake private money lenders who are just hard money lenders in disguise for short term financing. Go to a local real estate club and be active and you will meet people with money to lend short term.

You don't need many. There is a big myth that money is hard to come by. Nothing could be farther from the truth. There is a lot of money if you buy correctly and make the right connections. Remember, you make your profit when you buy, not when you sell. OZ RE is one of the biggest bubbles today, in the same league as Vancouver or Toronto RE I think? What's your thought when the bubble will pop? Very few sellers will go for it.

Even if you do execute such a strategy, it comes with one big flaw. Allen's entire investment strategy is based on the assumption that real estate keeps going up in value, so you can over pay for the property now because it will eventually go up in value. Problem is, that doesn't hold true if there's a downturn. I owned several such properties in Florida, all financed with nothing down and all hugely upside down and I eventually let them go back to the bank.

At the end, it wasn't worth all the work.

Like everything in RE , there are always exceptions. The problem is he never mentions profits, just acquiring RE. Our office complex was also funded with none of my own money, my current personal residence While there may not be a lot of sellers willing to do no money down deals, there is a lot of private money looking for a good return. Dell Schlabach, BenchMark Properties The last one was a grapevine deal.

Download [PDF] Nothing Down- How to Buy Real Estate with Little or No Money Down Allen Robert G. - Video Dailymotion

Waite a minute I did write a book LOL Already have an account? How a Newbie Can Start Building Wealth Through Real Estate. Use your real name. Make it at least 8 characters. Create a new account instead.

An email has been sent with a confirmation link. That link will get you back here to reply. We look forward to your post. Log In Email Address: Share on Facebook Share on Twitter Share on LinkedIn 1 of 2 pages First Last. Edwin Duran from Orlando, Florida, Florida posted almost 3 years ago. Hello BP'ers So I just wrapped up reading Robert G. Looking forward to your comments. Jay Hinrichs Developer, Real Estate Broker, from Lake Oswego, Oregon replied almost 3 years ago.

Investor from Thermopolis, Wyoming replied almost 3 years ago Moderator. Edwin Duran from Orlando, Florida, Florida replied almost 3 years ago.

Originally posted by Jay Hinrichs: I am sure your not going to be doing that.. There's a lot more to the deal than getting nothing down.

That's just one piece of the puzzle. Jay Hinrichs - did you translate your Australian book into English? Darron Stewart Investor from Hattiesburg, Mississippi replied almost 3 years ago.

Edwin Duran It's possible and so much more, open up your mind, read and research here and anywhere else you can.

David Krulac from Mechanicsburg, Pennsylvania replied almost 3 years ago. Now the last properties that I bought 99 were all cash. Brian Gibbons Investor from Sherman Oaks, California replied almost 3 years ago. Funny how many agents do not think outside the box. A good primer of thinking outside the box is http: Joel Owens Commercial Real Estate Broker from Canton, Georgia replied almost 3 years ago Moderator.

Hi Edwin, NMD deals were more out there in the down markets years ago. I had a Aussie co author who put the OZ spin on it.. Terms are generally the same. Robert Davidson from Corte Madera, California replied almost 3 years ago. Real estate investor from key west, florida replied almost 3 years ago. I know a little something about real estate books. Manch Hon from San Jose, California replied almost 3 years ago. Andy Argonaut Real Estate Investor from San Francisco, CA replied almost 3 years ago.

Billy Rogers Real Estate Investor from nowhere, Texas replied almost 3 years ago. Reed has a nice little article about Robert G. Allen on his guru rating page. Dell Schlabach Investor from Canton-Akron, Ohio replied almost 3 years ago. Michael Lemieux Flipper from Boynton Beach, Florida replied almost 3 years ago. Thanks for the feedback, ill definitely look into these different methods you have referred to. Originally posted by David Krulac: Brian Gibbons "No Money Down" was actually written by Carleton Sheets "Nothing Down" was written by Robert Allen and "No Down Payment" was written by Ed Beckley just to set the record straight.

Thanks for your expertise, thanks for clearing that up. Originally posted by Michael Lemieux: Edwin Duran , 2 of the last 3 house we bought were "no" money down. Woahh, lots going on there.. Would you mind telling me more about that deal? Trending Discussions Failure to launch, no luck so far Replies.

Robert G. Allen No Money Down !?! Is It Possible ?!

Get Started on BiggerPockets Already have an account? Log in Close Create an account Already have an account?

Log in Your Full Name: Use your real name Your Zip Code: Your account has been created Before you can use BiggerPockets fully, you must confirm your email address. Your BiggerPockets account is now confirmed Welcome to BiggerPockets! We look forward to seeing you around.

Log in Close Create an account to reply Already have an account? Log in to reply Create a new account instead Email Address: Your account has been created Before you can post on the forums, you must confirm your email address.

Your BiggerPockets account is now confirmed You can now post on the forums. Explore Membership Community Education Marketplace Tools Perks. Company About Us Press Advertising Jobs Stats Contact Us. Important Terms of Use Rules Privacy FAQ. Social Facebook Facebook Twitter Twitter LinkedIn LinkedIn YouTube YouTube Apps iOS App Android App.