How To Finance Your Home Investment Purchase
When it comes to buying a real estate investment property, the first deal is the hardest.
I know that financing your first investment property can be a major pain. The first time is by far the scariest and hardest. After you get over this fear and hump it you are on your way to success. It’s like this with lots of things in life. Travel,girls, and just about everything worthwhile. You have to take a risk, put yourself out there and be prepared for success.
Check your credit score early and often to make sure there aren’t any mistakes or issues you need to address before hand. This will save you many headaches going forward.
Next decided what kind of property you are looking to purchase. I would recommend the under 10k variety near a big city like Louisville,Kentucky or Detroit,Mi.
Get your paperwork in order.Your bank or credit union will need all your paperwork such as bank statements, paycheck stubs, and all your financial records. So go ahead and get it all organized so they can look it over. Keep this all together and up to date.
I’d recommend hiring a real estate attorney to get all your paperwork organized and give you strong advice on moving forward.
Next, get prefinanced.
This will save you time and headaces with realtors. Next head on out and get your fixer upper.
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