Whether you are purchasing a rental home or flipping a home to sell, investment properties carry high risks that may yield high return. Do your research, asses your property, and get creative with financing to it with your investment goals. Ready to grow your portfolio? Give us a call today!
Here are a few options for financing an investment property:
CONVENTIONAL MORTGAGE LOAN - 20-40% down payment (more on loans here, by Investopedia)
CASH - Having cash will always give you the most flexibility.
HARD MONEY LOAN - qualify on the home itself. Also called fix-and-flip loan. (more on hard money loans here)
HOUSE-HACKING - Purchase a duplex or triplex, live in one unit and rent out the other(s). Live for free while building equity and preparing for your next purchase. (more on house hacking here, from the experts on house hacking, Bigger Pockets)
HOME EQUITY LOAN - pulling money from your current homes equity accumulated. This could possibly be up to 70-80% of the equity. (more on home equity loans here)