How can a real estate investor find the right bank to help them reach their goals? That’s our first question on today’s Q&A Monday! On this episode of Investing in Real Estate, I’m tackling three listener questions, all about financing options.
You’re going to hear how you can find an investor friendly bank to help you grow your portfolio, how to get started in real estate if you’re starting with $0, and the best ways to use other people’s money to reach your financial goals. Join me on this Q&A Monday to hear my answers to your questions.
On this episode you’ll learn:
- How to find an investor friendly bank.
- What resources you can use to get started with no money.
- How to access the equity in a rental property.
How to Find an Investor Friendly Bank
if there were ever a time to take advantage of the banks’ resources, it would be now! With interest rates at an all time low, you’d be wise to shop around at different banks. I always advise investors to shop locally. In most instances, small banks and credit unions are able to offer competitive rates and products. If you don’t have luck there, I recommend Flagstar and Churchill Mortgage.
What Resources You Can Use to Get Started with No Money
At Morris Invest, our team has access to 60+ lenders, including non-recourse financing built into our new construction rental properties. If you’re interested in working with our full-service team, you can book a free call to discuss your options. If you want to find options on other rental properties, I’d suggest visiting morrisinvest.com/funding or pursuing options through a local meetup.
How to Access the Equity in a Rental Property
I’d recommend refinancing a rental property, as long as the numbers make sense. Shop around and see what banks can offer you. You can expect higher interest rates on investment properties, but pursue your options locally. If you can refinance, use the funds to grow your portfolio.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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