I will be sharing with you the many methods I used to buy properties with no money down over the next few weeks, one method a week. When I say no money down it does not mean literally no money, it means leveraging on other people's money.
The first method will be leveraging on the bank's money. An example will be a property that I bought in Malaysia. I bought it for Rm860,000 and the bank valuation for the property is Rm1,000,000. The bank is also willing to give me a bank loan of 90% of the valuation amount. In other words, I could get Rm40,000 cash for buying a property.
The key to having such a deal is the ability to buy at below market value. Selling and negotiation skills is very important in such transaction.
More no money down deal next week.
Hi Jerome,
ReplyDeleteThanks for sharing.
Nicely done. Yes, this is how the investor do it... they look for undervalued properties though it may take some hard work and time.
Back in 2003, I bought my first HDB flat with zero COV, $1000 downpayment and $40k grant. Monthly installment is paid fully by CPF and I'm currently getting cashflow of $2k a month.