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Updated over 6 years ago on . Most recent reply

Account Closed
11
Votes |
19
Posts

Is a bank loan the best option for first timers?

Account Closed
Posted

My fiance and I are looking to get into real estate, and we are planning as our first step (after making sure our budget can afford it) to get preapproved for a 2nd loan. Our first home is where we live and is mortgaged. 

Is a traditional bank loan the best route for a couple with no connections? Should we even look into hard money loans or seller financing or other options? We cannot do a HELOC yet as our current mortgage is too new. Any advice is appreciated!

If loan is a good option, any lender recommendations would be appreciated!

p.s. How can we find information about local meetups?

Most Popular Reply

User Stats

69
Posts
74
Votes
Andrew W.
  • Investor
  • Austin, TX
74
Votes |
69
Posts
Andrew W.
  • Investor
  • Austin, TX
Replied

Are you looking to borrow money over long term for Rentals?

Or over a short term for flips? 

Don't forget seller financing can be an option. 

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