Lenders Keeping Mortgage Rates From Going Lower?March 9, 2020Mortgage rates dropped to an all-time low last week as the benchmark 10-year U.S. Treasury note, which tends to influence the
Are You Ready To Invest
Dated: June 3 2015
Views: 511
When it comes to buying a property to invest, there are many things to think about.
Flipping homes
Become a landlord
Rehabbing homes
Private Lending or Conventional Financing
Buying occupied properties
Buying shortsales or foreclosures
So start you off right, flipping homes is no longer an option. Foreclosures, sellers, shortsales...they are all coming in pretty close to market value. You might find a fixer upper that you can make a few thousand on, but is it really worth your time and frustration? Most of the deals are on properties that have city liens. Are you ready to fight the city on the code violations and liens? Sometimes you win, sometimes you don't.
So unless you have the resources to buy at the County Auction, I say just don't worry about flipping homes right now. I can show you how to make just as much in the next few months without those worries.
If you are ready to invest today and want to see if you qualify for conventional financing, go to www.bestdirectlender.com and fill out the application. Interest rates are still pretty low. On average, interest rates for conventional financing are at 4% to 5% interest. Of course, now you have to qualify based on your income, credit and debt to income ratios. To show income, you have to show your income taxes, which is a deal killer for most self employed individuals. Credit, well you need at least a 680 FICO score and you can't have too much debt.
So you can't qualify for a regular loan? No problem. I have some of the easiest financing options for investors.
30% down
2.5% to 5% at closing for loan origination depending on the deal. On average it will be 2.5% to 3%
and 10% interest only for 3 years.
So now that I have a Private Lender with decent rates, what can I do with it. Well, the answer is simple. Build Residual INCOME! BECOME A LANDLORD. OWN ASSETS. Flipping homes might have made you money, but what happened to that money. It disappeared.
Owning an investment property brings you income every month. Have just 4 properties, rent them out and in a year either cash out and buy a larger investment or increase your rents.
Here is an example. Buy a $120,000 property.
$36,000 down payment plus closing costs
Mortgage payment would be $700 per month interest only
Rent it out for $1,300 and make $600 per month. Your tenant pretty much pays your mortgage.
Put your money to work. The banks are giving you any money in savings or deposits. The longer your money sits in the bank, the more likely
to use it. Take my parents for example. They only invested in a 401k and lost plenty. Now their money is only sitting in a bank account slowly
dwindling down and down every month. After many years of trying to convince them to become a landlord, it's finally happening. They are
going to make over $1,000 per month on their rental.
So the only question is, are you ready? Email me today and let me guide you in this process. There is no monthly fee, no one-time payments, nothing. I will personally teach you. Each and everyone of you has the potential. Even if you are renting because you haven't been able to buy anything and you have CASH on hand, you can buy today!
This is not a one size fits all program or webinar. This is nothing like that. Each person's situation is different. So contact me today so we can get you started.
Don't wait too long, because home values are increasing. We can still find $100k deals out there.
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