Traditional financing has been so readily available for so long that many investors never needed to get really creative. It in times like these that we need to tap our creative skills to find the money that we need to finance the deals that are out there….and there are indeed deals out there! If ever there was a time to be involved in real estate…THIS IS IT!
Hard Money…Yep, there is still plenty of hard money out there. My suggestion is to find a good source and make friends with them. Build their trust in you and your ability to give them a return on their investment and keep using the same source. These guys are regular people just like you and me and they are looking to make good deals. You have to remember that they make money by lending it and they don’t make money when they aren’t lending it…so, give them a reason to lend money to you and you will have your deals.
A couple of hard money sources that you may want to check out are:
www.blazevicfunding.com
www.EquityDevelopmentCorp.com
There are also Self-Directed IRAs that have been around a while and I am still amazed that many investors do not use this tool to invest in real estate. Check with the experts on this, but you can also work with other investors and their Self-Directed IRAs to pool your money to work on bigger deals or commercial deals. Not a bad way to go if you are in need of some capital at a great rate! Why not pay yourself the interest, rather than pay someone else…think about it…
And of course there are always the time tested 1031 exchanges to maximize your “NOW” money after a deal. There are pros and cons to 1031 Exchanges just like there are to all of the types of funding out there. Get familiar with them and use them like the tools they are to help you build your portfolio.
These, of course, are just a few of the alternative financial tools that are out there, you will want to become familiar with as many of them as possible. Knowing what money is out there and how to use it may just prove to be the fine line between success and failure.
Good Luck and Healthy Investing!
Rob
http://www.LocalRealEstateDeals.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment