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Buying any property is a BIG deal!! It's not something that everyone can do and we are all very lucky to have the opportunity.
If you are like me, you got hooked after buying the first property and can't stop thinking about how you are going to buy the next one.
But, that is where the doubt sets in. I remember asking myself, "How can I pay for this?" "I need to put down how much money this time?" "But I want to buy it TODAY!"
Well, I compiled some options that I learned that can help you too!
So, here are just a few ways you can fund your next deal: 1. Use whatcha got Use your current property to parlay your way into another one! You can either take out a line of credit called a HELOC or do a cash out refinance to get capital to use for another property. It can be used for the down payment or an all cash offer on the next property! 2. Find a Creative Lender 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 will be higher than a traditional mortgage, but if you find the right cash flowing property or flip, it will still be worth your while!
Need a trustworthy Hard Money Lender? Message me here and I'll introduce you to a great one!
3. Talk to Sellers that need to make a change
For every new investor trying to get in, there is someone looking to get out of the game. Find a Landlord that is hoping to retire and wants to sell. Here, you can structure a Seller Financing Deal where you can negotiate the Down Payment and the Terms to fit what you want. There are also many people that bought too much house that they can handle. If someone is behind on payments, they might be more willing to work with you before they lose the property to the bank.
Want to Deep Dive into these Strategies and learn more ways to Grow Your Portfolio?
Take our Intermediate's Guide to Real Estate Investing Course here to get an intimate understanding of all the options available to you to Grow your Real Estate Portfolio! By the time you finish the course, you'll know exactly the path for you to take!