Money Advice Guide

So many of my friends do not believe me when I tell them that I buy with no money down. It gets easier as you own more properties.

The trick is so simple, You do not need to buy the TV course either. All you need is good credit. I cover this topic in great detail in my other articles and websites.

In one of my recent transactions, I am getting ready to close on a pre-construction house in Homestead Florida. I like to buy with 80 % down, this way I don’t pay PMI and the paper work is so much easier. I also use the Option ARM, because I am not keeping it for more that a year.

So in this case I made a 10% deposit using a credit line from Bank of America and now for the closing and closing costs, I am going to use one of credit card promotions that gives me 0 % interest for 9 months. I plan to flip this in about 6 months so who cares?

This is just a small example of buying with no money down.
Another common method is using a VA Loan with 100 % Financing. Then you can use certain lenders that offer zero closing costs.
They will do this only if you have good credit and sign up for a the loan with at least 2 or 3 years worth of elevated prepayment penalties. And Finally if your credit is not so good, you can use the rent with the option to buy method.

My point is that you can really buy Real Estate with No Money down. If you can hold it for even 1 year, you will make some decent money.

If you have any similar examples, please feel to share your comments.

Dave Perry

Tags: buying, credit, down, investing, money, no, real estate, secretsbuying, credit, down, investing, money, no, real estate, secrets

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What’s it all about?

The past 4 - 8 years have seen a tremendous increase in the interest, purchase and hype of buying a property abroad. The late 90’s and early part of the 21st century has seen house prices surge in the UK to record heights, this together with the ever increasing coverage of the low cost airline destinations has given the average man in the street the excess equity in their existing homes and easier access to be able to think about buying and perhaps living overseas.

We’ve probably all been on a foreign holiday to some exciting destination, be it Europe, The Americas or even further afield and admit it whenever we’ve seen a local estate agent we always make a beeline for their shop window if not to compare the prices to back in the UK then certainly to see how and what we could afford - we’ve been doing it for years without really considering the possibilities.

4 years ago the number of properties owned by people from the UK hovered at around 170,000. Now there are over 1million Brits owning second homes in Spain and France alone, and figures from the Office for National Statistics recently revealed that around 200,000 Britons travel abroad every year in search of buying a property with the intention of staying for a minimum of 12 months.

The main question we at property-abroad.com are asked by investors and holiday home seekers is “where should we buy”? A difficult question to answer because every person’s idea of owning an overseas investment or holiday property is completely different. We have a selection of questions that we ask client to consider when thinking of buying abroad which include:

Budget - how much do you want to or can you spend. Do you need a mortgage or finance?

Location - is location important for you? Beach, countryside or town?

Use - personal for holidays or purely investment or a bit of both?

Access - is getting to your property easily and cheaply important to you?

Employment - will you need to work what is the employment situation?

Schooling - do you need to consider such things as schooling for your children?

Size - will a one bed apartment be big enough or do you need to consider a 4 bed town house or villa?

Rentability - is it going to be a necessity to rent your property out to help with mortgage payments?

Although we have over 300 different websites and feature over 50,000 properties for sale in over 45 different countries abroad no two enquiries are ever the same and as such we treat each enquiry on a personal basis. We feature properties for sale directly from local estate agents and developers in every country.

What about the legalities

Buying a property abroad can be relatively straightforward - there’s nothing really complicated as long as you follow instructions and use a reliable legal representative - whether they are from the country concerned or from the UK - it will make you feel more at ease and will help things to run smoothly. We feature various guides and books on buying property abroad on our website and apart from various little peculiarities in certain countries most overseas property purchases can run smoothly.

Mortgages

Financing your overseas property is a lot easier now than it was a couple of years ago. Mortgages for buying property abroad can be arranged through high street banks like the Abbey National, Nat West and Barclays. However, you may need to look at specialist lenders for new and emerging countries like Turkey, Bulgaria, and Croatia etc. Consideration should also be given to obtaining a mortgage in the country that you are buying in - things like euro mortgages can often work out cheaper than UK lenders but be aware of the changing exchange rate. Typical loan to value %’s can range from 60 - 80% depending on the country.

Insurance

As with all major purchases insurance must play a part in your overall budget plan. We would strongly recommend that adequate property and contents insurance is taken out to cover your investment as it grows. Although you don’t anticipate any problems arising with your new home you certainly want to ensure that your investment is covered against loss and damage. Although there are a number of UK based companies that will offer Overseas Property Insurance - you will also find that there are local companies able to offer similar coverage in each country.

Most of us here in the UK are already home owners and there exists a continuing strong demand for our little piece of England. However, there exists a growing sector of young people who are unable to climb on the UK property ladder because of the high cost of entry property prices and as such are entering the overseas property market as a means to secure some foot holding on an emerging property market.

A Place in the Sun - Channel 4’s property programme recently compiled their list of the 20 best places to buy a property abroad for investment purposes. To refresh your memory we have included those destinations below in ascending order from the best to the least projected returns on investments.

Romania - Poland - Portugal - The Baltic States (Latvia, Lithuania, Estonia) - Sweden - Belgium - Slovakia - Sweden - Finland - Hungary - Luxembourg - Germany - Czech Republic - Ireland - Austria Netherlands - France - Italy - Spain - Cyprus

With over 45 countries covered in our overseas property database prices of properties for sale in the areas above can range from a plot of land in the Bahamas from

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