Investors need several sources for loans for real estate investing. We like to use OPM. Average people believe you need money to make money. Rich people use other people's money.
Use these 4 funding sources and you'll always have the funds to close your deals.
a small business funding
Avoid the Big Banks with their traditional investment property financing. They'll make you jump through hoops, it takes forever to be approved, and even if you do finally get the loans, the most you can finance is 5 properties, then you're cut off. Period. After that no one will touch you. And they usually want you to have a high credit score and sign personally. Its a rough way to go.
Using OPM can be as simple as asking for owner financing. Always try to negotiate zero down and $0 interest. This is an especially good loan when your exit strategy is to hold the property as a rental for long term.
Successful funding is about structuring the investment property financing with programs and conditions that best fit your deal. And your exit strategy is a factor when determining what type of funding you'll need.
Get the thumbs up. Successfully submit the loan and approved. Lenders want to see the numbers, how the property will cash flow, along with costs and holding expenses and they want to see it in detail. Download our free real estate analysis software to construct a complete report of the property's financial capabilities.