Ive seen these “No Down Payment” plans on late night television and want to know if they are real or just a scam?
The guys in the infomercials make a lot of money, but not in real estate. They are in the business of selling books, plans, seminars, etc. It’s easier selling you those crazy schemes than it is for them to actually do what they are advocating in their programs. If it was so easy, they would be buying real estate that way, not putting out infomercials. Consistently making money in real estate requires a lot of hard work and a lot of hours. It isn’t a “get rich quick” scheme, though sometimes the market turns at just the right moment and you can get lucky enough to make a quick buck. Sometimes you hear about the “late night gurus” being charged with fraud. Those telling their “success stories” are often just actors. As far as “No Down Payment”, check with your Realtor or a local Mortgage Professional. There are FHA programs available with little or no money down.
