Hello from London

[Graham Brown]

Good to see you all here. Good luck with this r.e. network.

http://www.LoveProperty.org
Investing and Networking in UK, Europe

[Bill]

Welcome to the group! Feel free to share your knowledge or ask questions if you have them.
Bill

[Graham Brown]

Cheers Bill.

How are you guys financing no-money-down deals in the US currently?

Until recently, most UK deals were financed through bridging loans (cash) at, say, 70-85% of market value which are then remortgaged the same day based on 100% of the market value.

The system worked well last year, with investors able to buy for nothing and cash out anything up to $50,000 on a standard home.

However, the main lender changed its criteria for lending and, thanks to the crunch, few will now allow remortgages on the same day - requiring a 3-6 month ownership period.

To bypass the market restrictions many investors are looking at lease options and rent-to-own as alternatives although the former is still a grey (gray) area for lenders & the IRS.

How are things State-side?

[Bill]

Hello Graham and first, I want to apologize for not giving you a proper welcome. I've been terrible with not keeping this group up but plan on changing that.
It sounds pretty things are similair here as they are there. Currently, I'm a wholesaler and the big thing now is to offer lease options or rent-to-own as a work-around for the market restrictions.