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One of my friends, an established businessman, did this three years ago. He had contacts among banking people, and when that bank was opening several new branches, he offered them for rent an office space on the first floor in a building which was located attractively in the central area of the city. His offer was accepted. He took than the loan at that bank and purchased that office and renovated it, and from the money which that bank paid for rent, he paid back the loan. From his side, he he invested his good negotiation skills and his social contacts into the deal, and zero own money.
Did you hear of such real life examples?
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Disclosure: I am a NYS Licensed RE Salesperson
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If you can do that you can also make money
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"The point is, ladies and gentleman, that greed â€” for lack of a better word â€” is good. Greed is right. Greed works."
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So right now I'm paying back the credit all by the rent I get for the 8 appartments in this house and this will take me another 10-15 years, but after this time I bought this house out of nothing.
So I'd say it is possible to buy property without your own money, but you need the bank to pay for you and they only will do if you have other securities on your side (mine were my parents, but in 10 years this house I own then could be my security) in order to get tha bank to commit their money to you.
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