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Replies (5)
- Nancy Lee, "An OrderLee Home"
- Contributions:1195
I am sure specialists will answer your specific questions as the day progresses. I encourage you to seek a local real estate investors educational group. I found several in Philadelphia when I did an internet search. Look for a group who offers classes/discussions about the various facets of purchasing, rehabbing, and renting/selling. This can be both a great source of knowledge and position you to be part of a useful support network.
- Jay Rock, "jaybird8779"
- Contributions:2
Thank you, Nancy! As mentioned - I appreciate any and all advice to get started. I will surely look up the educational groups you mentioned and get moving from there.
If there is any more anyone can contribute I would be most grateful.
Jay
If there is any more anyone can contribute I would be most grateful.
Jay
- Kathleen Sheridan, "KathleenInPhila"
- Contributions:18
Dear Jay Rock,
Dig and Hapco are 2 non-profit organziations for real estate investors. You can attend meetings, join, network, and learn about investor financing.
www.digonline.com and www.hapcoassoc.com
For information on properties to purchase contact me for an individual consult. Kathleen Sheridan, The Miglionico Group, Weichert, Realtors - McCarthy Assoc. We are experienced agents working with investors.
Dig and Hapco are 2 non-profit organziations for real estate investors. You can attend meetings, join, network, and learn about investor financing.
www.digonline.com and www.hapcoassoc.com
For information on properties to purchase contact me for an individual consult. Kathleen Sheridan, The Miglionico Group, Weichert, Realtors - McCarthy Assoc. We are experienced agents working with investors.
- Marshall Ford, "marshall.ford"
- Contributions:15
The other people who answered you did a great job of providing information but they did not seem to answer the specific questions that you had.
My company manages several hundred investor owned properties. We have attorneys and mortgage people at our beckon call. Our agents are very experienced and most are investors themselves.
In writing this response I contacted an attorney and a mortgage broker for some current information. There are many options available to you for financing and my people are willing to sit down with you and discuss these options. Please call me at 215-206-8728 and we can talk about some of your personal options.
In the meantime: Conventional financing, mortgages and constructions loans have slim to no availability at this time. You need at least 20% down plus closing costs (5 - 7%). If you have considerable funds in a bank you should see them and ask them what they can do for you. Borrowing from a hard money lender is another approach. The DIVERSIFIED REAL ESTATE INVESTOR GROUP (DIG) or I can put you in touch.
Marshall
My company manages several hundred investor owned properties. We have attorneys and mortgage people at our beckon call. Our agents are very experienced and most are investors themselves.
In writing this response I contacted an attorney and a mortgage broker for some current information. There are many options available to you for financing and my people are willing to sit down with you and discuss these options. Please call me at 215-206-8728 and we can talk about some of your personal options.
In the meantime: Conventional financing, mortgages and constructions loans have slim to no availability at this time. You need at least 20% down plus closing costs (5 - 7%). If you have considerable funds in a bank you should see them and ask them what they can do for you. Borrowing from a hard money lender is another approach. The DIVERSIFIED REAL ESTATE INVESTOR GROUP (DIG) or I can put you in touch.
Marshall
- Rachel Gorelick, "RGorelick"
- Contributions:40
I was wondering how did you make out? Did you buy an investment property and obtain financing?
Newcomer To Investment Properties
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- 0.0/5.0
Contributions:2Do I mortgage or get construction loans?
How do I approach the bank?
It's this aspect of the business that hands on people like myself struggle with. Please point me in the right direction, with knowledge, a book, or informational webpage. Any information is greatly appreciated!!
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