If you are a real estate investor, you likely know what it’s like trying to find financing for your next deal. Depending on your financial situation, this could be easy or extremely difficult. Especially with foreclures still running high, some banks have tightened their lending policy. So what are the options for financing properties during these tough times? The truth is that there are no limits on how you decide to get your property financed. In many cases, you don’t even need a bank to get the money you need.
Other options for financing property are mortgage brokers, hard money lenders, and the seller themselves. Although I personally choose to get my financing through banks, these other sources of financing are useful when bank financing doesn’t make sense. Tomorrow I will discuss my opinions on each type of financing. Today I’m interested in hearing your experiences with these different types of financing. What works for you, and does it make sense in the long run?