5 Things About Real Estate You May Not Know by: Billy Epperhart
As many of you know, real estate is one of the best ways to build wealth. Some of you will be really familiar with this topic, and others will not be. In this article, I want to give you some things about real estate that you may not know, whether you’re a beginner or have real estate experience.
\RX FDQ XVH HTXLW\ LQ \RXU KRPH UHƓQDQFH other properties, or you can use a retirement account or liquid assets, as well. You can use partners to raise down payments in real estate, or you can use lines of credit from local banks, which tends to be my favorite option.
There is so much to learn in the area of investing, and it’s impossible to know everything when you start. I hope this information helps you get further along in your journey!
The point is that there are many different ways to get loans and purchase properties. Research them all and become knowledgeable.
1. Creative Financing Most people think that they have to purchase their rental properties the same way they SXUFKDVHG WKHLU ƓUVW KRPH VDYLQJ XS IRU D down payment and getting a loan. While that isn’t a bad strategy, there are other ways to acquire properties. I like to have at least two bankers in each area I’m buying real estate because they will typically have different resources and offer you different loan products. Instead of saving up for a down payment 12
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2. Getting the Best Cash Flow Spreads Many people, when investing in real estate, will bypass low-to-moderate neighborhoods because they think they will make the most money renting out luxury houses. There’s nothing wrong with that, in fact, I rent out
