Owning property, it is well known, is a fantastic way to build wealth. Most get rich (slowly) books, will have some kind of angle on the concept. Essentially, rental property can be an income generating appreciating asset. It is a mouthful, but in layman’s terms it is a very good thing. Do it right, and the whole exercise will cost you very little and, over time, yield you a fortune.
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Blog Archives
Financing Options for Investors
If you prefer to separate business from pleasure, skip the Private Money and go for one of the other options. A bank loan might be the most laborious to obtain but is the most straightforward. Hard Money makes sense when a bank won’t lend you the money, you are convinced you can make a profit despite the higher interest rate and you can afford the higher repayments due to the shorter repayment period. All three options have their place and patience and a good deal of homework are required in each case.
Posted in Buying Investment Property Tagged with: Buying a home, Financing, Investing, Mortages, Private Money, Rehabbing
When is the Right Time to Buy a House?
Two things seem fairly certain in real estate. They are not making more land, they are making more people. In economic terms, this means that over time, demand will always outstrip supply. In some areas this is more true than others and that is where the research comes in. Don’t be lazy. Most people spend more time buying a pair of sneakers than they do shopping for houses. Relative to price, you may want to spend a bit more effort making a good choice. Buy when prices are low. Approach property purchases with a long term view and you will be fine. Expert investors look at shorter time frames and work with smaller margins of error.
Posted in Buying a first home, Buying Investment Property Tagged with: Buying a home, Financing, Househunting, Investing, Mortgages
Rehabbing a Home-Solving Property Problems
Fixing up such a property for habitation, or rehabbing is a win for everyone involved. Obviously the initial motive is profit for those buying the investment property but the community benefits as well. Not only is the eyesore removed, but the renovation is likely to transform the bargain property into an attractive addition to the street. In turn, when it is sold, it should fetch a good price. This is in your benefit for when you want to sell your own home as a price precedent in the area will have been set.
Posted in Buying Investment Property
Getting Pre-Approved for a Loan
Property investment companies and those buying a first home are constrained by the same thing, access to money. In today’s economy, after the negative equity fallout, purchasing a property with a home loan or mortgage is more challenging than before, but this is a good thing.
Posted in Buying a first home, Buying Investment Property
