From the category archives:

Financing

My Bank Went Under!

April 8, 2009

Luckily, this won’t have much of an impact on my business, but one of the two lenders I’ve been using to finance my properties just ended up as the 21st bank in the U.S. to fail in 2009! The reason it shouldn’t have much affect is that I’ve primarily been using a different lender for […]

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Investor Financing Options

September 1, 2008

Now that I’ve spent many dozens of hours talking to lenders and potential financiers of my deals, I’m starting to gain some insight into the different types of loans and equity financing available to real estate investors, and the benefits and drawbacks of each. Of course, given today’s credit situation, options are not only more […]

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House #2: Down to the Wire

August 22, 2008

I closed on The Bulge House yesterday. While I was hoping for a smooth and easy close, I was unfortunately a bit disappointed… The good news is that the appraisal came back very solid, at $75K. I’m paying $61K, plus getting a $2500 credit towards rehab, so essentially my purchase price was $16,500 less than […]

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Finding Financing

July 21, 2008

Once I decided to pursue investing in single family houses more seriously, it became clear that I’d need a serious financing strategy. While I can afford to buy a few houses for cash and pay for all the rehab costs myself, if I’ll be holding those houses for any period of time before selling, the […]

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Update for 7/17/08

July 17, 2008

I know, not the most creative of blog post titles, but it will have to do… Lots of “fun” stuff happened the past couple days: 1. Met with a couple more banks. While they aren’t going to be able to get me the financing I’d like, I may not be in a position to be […]

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Meeting with the Banks

July 15, 2008

As I’ve mentioned in previous posts, my biggest obstacle to be able to scale my real estate efforts is the difficulty I’ll face in getting loans. I have some cash in the bank, and I have great credit, but without income (I quit my job, remember), it’s very difficult to qualify for loans these days. […]

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