Real estate investing is an expensive habit. You need money to finance the purchase, renovate your fixer-upper, and cover the holding costs while you prepare to sell or rent the property. The good news is that it doesn’t all have to be your money. In fact, the less of your own money you can use and the more you can borrow, the bigger the return on your investment. Add the potential credit and market woes like the first decade of the 2000s, and investing in real estate also becomes a bit more of an adventure.
Lining up financial resources well in advance of scouring the neighborhood for investment opportunities enables you to pounce on a bargain and gives you leverage in negotiating the price you ultimately pay for a property. When you place an offer on a house and other bids come in, the seller may accept your offer of thousands of dollars less simply because you have the financing in place to quickly close the deal. Ready cash also frees you to plan and begin rehabbing the property immediately instead of waiting around for sluggish loan approvals and credit checks.
If you’re thinking that you can’t possibly get your mitts on enough cash to finance your venture, Financing Real Estate Investments For Dummies is the book for you. Here you discover the best sources for investment capital and how to go about tapping into these sources to fuel your next venture.
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