Comments on: Can you really buy a house with no money down?

By: dave

dave — Mon, 30 Nov 2009 12:28:42 +0000

well tbh i think everyone going over the top here!!i would say to rent a council flat until you are able to buy it of the council for relatively cheap then sell it on for a very good pfofit then you have money for the next house

By: Phil Barber

Phil Barber — Sat, 26 Sep 2009 16:53:41 +0000

No Ive not lost the plot. Whilst houses have been falling in price Ive been buying them below the lowest price they can fall to. The pressure to diminish the value of the pound is massive and the government have been doing the one thing that devalues the pound most, printing money.

We are already seeing the beginning of price rises and property has a long way to go to catch up. I’m going to look back at the houses that I purchased in 2009 and marvel at how cheap they were.

This has been a great year for property investors. Probably the greatest in my lifetime.
Can you buy houses with no money down? Yes you can but it easier if you use other more standard mechanisms.

Phil.

By: Adepeju bankole

Adepeju bankole — Wed, 29 Apr 2009 14:34:21 +0000

I would like to find out how to buy a propperty with no money at all

please email me or phone me on 07942960670

By: Reality Check

Reality Check — Tue, 21 Apr 2009 22:00:25 +0000

Phil Barber – have you lost the plot? House prices have gone down – nationally by 16% on the average house price. Which planet have you been on? They will bottom out sooner or later. Once this happens they will start to rise over time. See the recession as resetting greed. One lot moves out, the others move in!

By: phil barber

phil barber — Tue, 24 Mar 2009 22:01:00 +0000

I cannot believe what I have just read. Your article is completely wrong. You can buy property with no money down. OK, you have to have the right connections and intelligence to make it work. This process must be used where property is discounted but it can and is being done every day.

Interest only mortgages are the safest form of loan because they protect cashflow and that is critical. The true value of an interest only mortgage goes down as the value of the pound diminishes. £100K in 8 years time will buy what £50K buys today.

Houses must climb in monetary value because the pound keeps devaluing and almost nothing will stop it. Todays drop in price is just a minor fluctuation that will pail into insignificance in the future. Houses do not go down in value.

Peter, wake up, you haven’t got a clue what you are talking about.
Phil Barber.

By: tracy charles

tracy charles — Mon, 02 Mar 2009 14:38:41 +0000

i am tracy charles i have been renting all of my life. Sometimes I think that there is no way out for me. I looked many times to get a house but there is no hope for the hopeless. Ii would love to have a house one day but that’s a hoax.

By: Tony

Tony — Tue, 13 Jan 2009 13:47:52 +0000

After 25 years a well maintained property will have appreciated but the ongoing maintenance costs are not included in any of the BTL for fun and profit sites.
You need a cash surplus from rent vs. mortgage+insurance every month to fund these ongoing refurbishments

By: Alan

Alan — Sat, 27 Dec 2008 16:46:00 +0000

“Unfortunately ,after 25 years the house will not be worth what it is today”
Why is it unfortunate that its value has gone up (conservatively) by 3 or 4 times?

By: Idz

Idz — Thu, 29 May 2008 15:45:48 +0000

Vannessa can you buy a buy let propety with no money down? providing you get it for 15% under market value that is?

By: Vanessa

Vanessa — Thu, 31 May 2007 15:19:01 +0000

This article is extremely misleading in its own right especially concerning the market in London which is absolutely phenomenal at the moment. None of my nine properties there have ever had one day of being empty. Also, the information about mortgages and equity release is totally inaccurate. I hope I can establish my credibility here, being a successful full time property investor. I started investing in property three years ago and have acquired a portfolio of £3.7m using very little of my own money. I have fixed rate mortgages on all my 15 properties so have not been affected by interest rate rises. I have a passive income of £2500.00 net profit per month. Therefore, if some of my properties were empty, I can weather the storm. There are indeed pitfalls in property investment. The key to overcome them is simple. Whether you are a first time buyer or wanting to build a buy to let portfolio – get yourself educated. Learn how to manage and minimize the risks. The less money of your own that you put into a deal, the less risk it is!. I now have a property business, since I gave up the rat race last year. Please visit http://www.4wallsandaceiling.com and click on “recommended education course” for further details of the course that I found to be the most practical and thorough education. There is a free two hour taster session available to give you some insight into how professionals make money in property. With regards to property clubs or schemes, yes do be very wary of them. I have never bought a property through a club or scheme myself because I took the trouble to educate myself how to do it. It’s that simple. The problem is that people in this country seem to have an issue with paying for education. I have now paid to do several property investment courses, because I believe that my financial security and future is worth investing in. The price of ignorance is far greater than the cost of any course to learn how to invest in property safely and get your advice from someone who is actually doing it and making a success of it.