LOOKING FOR IDEAS

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Questions for those more experienced.

In the beginning stages of locating and securing property for investment purposes, confusion may arise as to what steps should be taken and in what order.

My thoughts are that you should make every attempt to get pre-qualified by a lender, prior to even locating a property for investment. By doing so, you have some idea of what price range you looking at.

When looking at pre-construction projects as investment opportunities, I’ve noted that most “Hard Money” lenders state that they want Verified Assets (6 months Principal, Interest, Taxes, & Insurance) when qualifying for 100% financing. Is this always the case?

Then we run into the problem, as is unique to the age we live in, of finding a legitimate lender on-line. While this may expedite the qualification process, how do you know in fact the person you are dealing with is truly who they say they are? We all know that giving up personal information such as social security number, bank account numbers, etc., can be quite dangerous.

I for one am curious if anyone has a Florida lender they have worked with on-line, that is easy to work with?

Last, but certainly not least, some investors claim that when looking for investment properties, you should start with properties that you can flip and not with properties that you intend to rent out.

Any thoughts or opinions on this idea?

Thanks