Mo’ Money. . .Mo’ Deals! Find out how to tap unlimited funds for your deals!
Date: May 16, 2019
Everyone says “You find a deal and the money will appear”, but really is that true?
YES!
If you have a true deal there is money everywhere. The bigger question is what is the right money to go after for a given deal.
- What is the best money to go after if I’m a rehabber?
- What if I’m a landlord that fixes the house first then places a tenant?
- What if I just do “buy and hold” rentals?
- What if I’m a wholesaler that just needs money for a couple of weeks?
You can do it all with just your own cash but will that reach your real estate goals? Probably not!
So, how do you decide what source of money to use for a given deal?
There are several different sources of money for deals. Suzanne Hunn with FasterFunds Lending and her expert panel of Tim Nash of American Bank (local banker) and John Heinkel with USA Mortgage (mortgage broker) will be explaining how you can leverage various types of funds to reach your goals faster.
There are many variables or factors that go into which type of financing is best for a given deal:
- Are you going to live in it or is it strictly investment?
- How long you plan to own it?
- How fast you need to money to fund the deal?
- How many current personal real estate loans do you have?
- What area is the property in?
- Do you buy using an LLC, other type of Corporation status, or your personal name?
- Are you currently a W-2 wage earner or self-employed?
- What type of property is it? (single family residence, multi-family, apartment complex, etc…)
- How often do you buy or how many deals do you want to purchase in a year?
Once you figure out your overall approach to real estate investing then it is much easier to know what type of financing or combination of financing will be optimal for you.
Suzanne and her expert panel will be covering different strategies that you can use a real estate investor which can really accelerate your net worth and monthly cash flow!
One such method that uses leverage is the BRRRR Method. This is where you purchase a house, fix it up, place a tenant, then refinance the short-term construction loan for long term mortgage loan AND pull out the funds you personally have tied up in the property.
Then you do it again!
Buy, Rehab, Rent out, Refinance, Repeat (BRRRR Method)
What if you are a rehabber? Now you need money for the purchase and the fix. How can you do that without using all your own money? Or how can you strategically use your own money and not have to go through construction disbursing.
Well, I have to leave a little cliff hanger. Come on out May 16th and Suzanne will tell you exactly how to fund that type of deal and more!