Financing Your Next Deals

Many investors don’t have the proper credit score or necessary down payment amount for traditional lender financing. Here are five ways to find financing for your next deal. Financing Deals is it the starting point of any real estate transaction. There are more places to find nontraditional financing than ever before.

 

Limited Contact

Local Contacts – The odds are that in your market you can find at least three established hard money lenders who have been around for some time. It is always a good idea to keep your financing deals search localized. With any referral it is always a good idea to start with the people you know.

Networking Groups and Clubs

Real Estate Investing Clubs And Networking Groups – Real estate investment clubs are a great way to build your networking base.  At almost every meeting you can find a handful of wholesalers, attorneys, mortgage brokers and hard money lenders.

Bandit Signs

Bandit Signs/Closed Deals – An investor that posts a “we buy houses” sign is looking for sellers but can also be a great way to find a business partner. The more people that you reach out to the greater chance that you will not only find financing deals but find someone that wants to work with you down the road.

Friends And Family

Friends And Family – Without even realizing it you may have several friends, family or co-workers who are interested in real estate investing but aren’t exactly sure what steps to take. Let them know that you are a real estate investor who is looking for financial backing either on a short or long term basis.

Social Media

Social Media – Some people aren’t comfortable with letting the world know they are in real estate and looking for financing. Finding financing doesn’t have to be contained to the people on your email list.