Are you thinking of buying investment property? Here’s how to get creative with your financing options.
Thinking of Buying a Home? Search All Homes
Thinking of Selling a Home? Get a Home Value Report
If you have friends who are also interested in buying an investment property, another option is to buy a property as a group. If you’re a part of an investment group, try presenting a purchasing idea to them and see who’d be willing to share in the investment opportunity.Thinking of Selling a Home? Get a Home Value Report
How do you get creative financing to purchase investment real estate? There are many ways, and here are a few tips to get started.
First and foremost, look at the listing. What’s the seller’s situation and what are they willing to do? Quite often, investors in Southwest Florida who are selling a group of properties or individual properties don’t need cash and will hold a mortgage for you. This allows you to buy a home with less money down or more attractive financing terms and rates.
Mortgage lenders also offer an FHA 203(k) program, which requires less money down and allows you to refinance repairs for the property, according to its after-appraised repair value. If you’d like to know more about this program, I’d be happy to put you in touch with a lender who’ll talk to you about it.
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Investors who don’t need cash may be
willing to hold a mortgage for you.
willing to hold a mortgage for you.
