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Updated about 6 years ago,
How to get first time investment financing!
Hey Team, Looking to find the "how-to" on getting lending for my first investment deal. About me: I'm 5'10" Scorpio who likes long walks on the beach and books about Europe. (lol) I currently have a condo that has a bit of equity in it (~50k) and want to use it smartly. I have no idea about buying an investment property but I know it's the right answer. I know how to make a relatively educated assessment of a property and whether or not it will be profitable or not. I also have about 10k in a retirement account that I'm willing to drain for this.
I have no idea how to use hard money, or if I would even want to.
I have no idea how down payments work on investment properties or if there are any other debt services that offer anything else than a 75% LTV amount.
Looking for someone to engage in a discussion with me and help me learn the ropes.
Thanks!!