No Money Down – Sinner or Saint?
When I started property investing 5 years ago I did the old fashioned way, released money from my home, bought a couple of terraced properties, waited for them to increase in value and then remortgage. Then around 2 ½ years ago I stumbled on No Money Down or NMD. I thought all my Christmas’s had come at once. I couldn’t believe that you could buy property this way. There had to be a catch! But there wasn’t, I just kept buying and before you knew it id bought 35 houses within a year.
Then the unthinkable happened, the credit crunch and the demise of Mortgage Express, I was devastated. What I thought was my God given right to buy properties in this way, was snatched away from me, just as I was planning my early retirement (I was only 29 at the time)
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