Real estate investing can be a very lucrative option. But to do it you need money. Many investors have a hard time qualifying for mortgages so it’s imperative to find alternate sources of financing.
Tips to follow;
1. Private investors. Network with rich individuals, such as doctors, retirees, and successful real estate investors. Offer these individuals a higher return on their money than they are getting in their current savings, investing or retirement accounts.
2. Hard money lenders. Hard money lenders lend based on the financials of the property, not on the creditworthiness of the purchaser. They often charge points and high interest rates. They should only be used for short-term financing.
3. HELOCs. Home Equity Lines of Credit on your personal residence can serve as a great source of capital to finance real estate investments.
4. Lines of credit/credit cards. Taking an advance on a credit card or using a signature line of credit can provide short-term capital to close on a deal that can then be refinanced for more permanent financing.
Once you’ve identified the property you’ll need to ensure a maximum return on the investment by hiring professional property management. (often a stipulation from the investor) Contact Real Property Management for a free consultation.
Real Property Management is the nation’s leading property manager. For over 30 years, Real Property Management has developed intelligent professional management solutions for thousands of individual property owners, investors and Realtors.