If becoming a residential real estate investor or being a landlord sounds like an exciting opportunity, then owning property is a must. For some people, buying a multifamily property is a lifelong dream. What those people may not realize is that their dream is a lot more attainable than they might think. You don’t have to be a billionaire to purchase the ideal multifamily property. In fact, if you know how to play your cards right, you can achieve your goals with little money in the bank, or even no money at all. Here are 6 strategies that might help.
Continue reading “How to Buy a Multifamily Property With No Money”What Is a Construction Loan?
You’ve decided that homeownership is for you but haven’t been able to find anything on the market that you like or that fits your needs. Perhaps you should consider building the home of your dreams but aren’t sure how to finance it. Banks and other financial institutions may have a construction or self-build loan option available for you to make your dream a reality.
Continue reading “What Is a Construction Loan?”How to Get a Commercial Real Estate Loan
Commercial real estate is another phrase for a property that produces income for business purposes. Some examples of this include hotels, rental units, shopping centers, or office buildings. You may be familiar with what it takes to get a traditional loan, but the process for obtaining a commercial real estate loan is much different. Requirements and terms are tailored toward this specific scenario, which means that a good background on the subject will help you navigate through the process better.
Types of Real Estate Loans
Several variables come into play when looking at the type of real estate loan that’s right for you on the path to homeownership. How long you plan to live in the house, where you live, how much of a down payment you have, and what your credit history looks like are just a few of these variables. There is no one-size-fits-all mortgage, so it’s essential to determine which type of real estate loan works best for you.
Continue reading “Types of Real Estate Loans”Real Estate Collateral Loans
Collateral, an asset with value used to secure a loan, improves borrowers’ chances of approval and allows more favorable interest rates by reducing the lender’s risk. Loan agreements have provisions for how collateral may be acquired and sold by the lender if the loan isn’t paid back, protecting the lender’s investment. Real estate is a common form of collateral for securing loans, offering more attractive rates than unsecured loans.
Continue reading “Real Estate Collateral Loans”