I was reading an article this morning from CNN Money about all the No Money Down Real Estate gurus.  This reminds me a little of the stories of the Gold Rush.  It wasn't the majority of the miners making the money, it was the guy selling picks and shovels!  Do you see a correlation here?

Here's another precautionary article about these so-called gurus.   Some of these guys haven't actually bought or sold real estate for several years.  They're too busy making money selling seminars.  What does that tell you? 

It's not that you can't do No Money Down real estate transactions, it's just that the gurus make it sound alot easier than it really is.  I've actually done zero down deals for people.  As a matter of fact, we'll be closing on one the middle of next month.   BUT, I can't tell you how many "graduates" of these seminars  come to me wanting to  buy real estate with no money, no job and no credit ( bad credit). 

In my opinion, the best way to get started in No Money Down Real Estate is to partner with someone who actually has some money, a job (or other form of verifiable income), and decent credit.  You can be the "worker bee" on the first few projects and split the profits.  Once you've made some money, you can go out on your own.    You may not need money to put into a No Money Down deal... but you need to prove you have some.  It's kind of like the old joke about getting a loan.  In order to get a loan, you need to prove you don't really need the money. 

Plus, even if you actually are able to buy a house with No Money Down, you'll probably need money to do some fix-up or pay utilities and the mortgage until you resell it, or find a tenant.    Anyway, read the article.  It gives you a pretty good overview.  Then, if you still want to do a no money down deal, let me know.