Financing Ideas for First Investment Property

[Jesse Bruce]

Hello,

As per my last post I am trying to get a feel for the Memphis area real estate investment market.  Once I have found a place, assuming I'm not paying cash, how do I figure which financing options to use?  Are there any articles you can refer me to?

Thanks,

Jesse

[Bob Reinhard]

Financing options;

1. Your own $ (not an option per your comment)

2. Borrowed money from family and friends (private money)

3. Non-traditional lenders (hard money)

4. Seller financing

As @Juan V Lopez stated, rates are high for newbies, but you never stated your experience level, just your market unfamiliarity. However, not paying cash translates to nothing out of your own pocket. In these changing times, your own cash infusion to provide your own skin in the game is vital. More skin = lower LTV = increased possible financing opportunities.

Much success! Bob