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Alternative Financing, Check out
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Contributed by: Kim Tucker
Kim Tucker Properties
Read more archived articles about U Make The Call
From a recent email newsletter promoting our houses for sale, we have found that many of our buyers are searching for ways to finance their properties and we have noted a few options. . . .
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Today's emails highlights houses that are rehabbed and rented for very good numbers and are selling for prices that you would have paid for a house that needed a full rehab just 2 short years ago.
We have heard that Fannie Mae has freed up some investor monies so you can now get up to 10 loans in your name, but you do need a lot more down that you did a few years ago. Not necessarily a bad thing.
Some alternative funding options you might look at:
- Using your IRA money to invest in real estate. Many of us are investing in real estate to build a nest egg for our golden years, and you can do that with retirement funds and build your nest egg either tax deferred for regular iras or tax deferrred for Roth IRAs. We have just added a link on our web site with a teleconference giving you an introduction to Self Directed IRAs to give you some ideas. And if you need any assitance, we use Self Directed IRAs ourselves.
- Lines of Credit: If you have equity in your own home or cash deposits in the bank, you can utilize them as collateral for Lines of Credit to grow your business.
- SBA Loans: Lines of credit from the SBA are another option. You can learn more about SBA loans on their web site at http://www.sba.gov
- Private Lenders: You may find that you are able to find the great deals but are short on funds while on the other hand you have other investors in your area who have the funds but just can't find the deals. You may consider a partnership with these investors or buying the great deals and assiging them
Note: And if you are local to the KC area and want to attend the local REIA' meeting this month discussing Self Directed IRA's, please visit our web site at http://www.MAREInet.com and another presentation at the other group a few days latter on funding at http://www.kcig.org
Reprinted from Kim Tucker's Blog at http://www.TuckerOneProperties.com
(part of a series of posts)
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