Answers to Your Funding Questions
Buying property is no joke! It takes a lot of planning, organizing, and decision making! It can be one of the most expensive things you will ever buy! I totally understand when I hear my mentees say that they are stuck in Analysis Paralysis! It can be such a daunting task... But, it will absolutely change your life!
I became absolutely hooked after buying the first property and couldn't stop thinking about how to get the next! I remember asking myself, "How can I pay for this?" "I need to put down how much money this time?" "How can I afford it in this market?!"
I was pulling my hair out trying to figure out how others were buying two, three, ten houses a month! I just wanted a second that year! That wasn't too much to ask, was it?
And I was able to figure it out!
Exactly one year to the day, my husband and I closed on our second large multifamily in NY!
And you can too!
One of the goals here at Lady Landlords is to save you from trying to figure it all out on your own! I have already done the leg work for you! All you have to do is plug in and follow along. Let me show you how to get that next property!
So, here are just a few ways you can fund your next deal: 1. Leverage what you already have! If you already own your own home or have a rental property, let that equity work for you! Roll your current property into the 2nd, 3rd, etc! Look into taking a Home Equity Line of Credit (HELOC) or doing a cash out refinance to get the very capital you need for your next property! This can be really helpful right now as you can make cash offers to really compete in this crazy market! 2. Get out of your comfort zone! There is an abundance of money out there. You just need to get your hands on it. Find a Hard Money Lender or a Private Money Lender. With these options, your interest rate might be higher than a traditional mortgage, but if you find the right cash flowing property or flip, it will still be worth your while! It's still increased income in your pocket at the end of the day. I walk you through how to use these specific lenders on the Lady Landlords Podcast! Need a trustworthy Hard Money Lender? Click here to speak with mine! 3. Make 💩happen! Real Estate Investing is not a spectator sport! And in markets like this, if you can think outside of the box, you can absolutely capitalize on situations! Here is an opportunity to use your network and speak to retiring landlords, distressed sellers, etc to see what you can put together. The key here is looking to solve other people's problems. Look to see how you can structure a seller financing deal that will work for the them, but will also have you come little out of pocket! Find these sellers through Propstream to identify properties and see all the opportunities at your fingertips!
Learn 11 more Creative Financing Strategies in our Workshop here!
Watch the Lady Landlords YouTube here for more strategies using Other People's Money!
(Messy Hair, Don't Care! 😂)
Happy Deal Hunting!