One of the keys to being a successful real estate investor is to have 100% financing for your deals so you can do as many projects as you can. An investor usually tries to get financing through a hard money lender, but the problem is it’s very difficult to find a hard money lender that would lend you 100% of your purchase and rehab. Hard money lenders usually ask for at least 20% down payment. And even if you find one that does 100% financing, they will require you to have a lot of experRead More
A lot of people have misconceptions regarding assets and liabilities, thinking that it’s confusing to define and differentiate the two. But the truth is, you don’t need to be good in numbers or be a degreed accountant to know the difference.
See, it all boils down to this fact: An asset puts money in your pocket and a liability takes money out of your pocket. No exceptions, it’s not rocket science.
Most people consider their house as their biggest asset. The realiRead More
I know a lot of people would disagree with me on this topic. Nothing can go wrong when you save right? How can saving be wrong and how could you be a loser for doing it? Don’t get me wrong, it’s not that saving money is bad, it’s definitely better than spending money. But if you really think about it, let’s say you were able to save $10,000 dollars and you put it in a high yield savings account which earns 1.5% (which is a stretch nowadays, because realistically you’re probably lookRead More
I encounter a lot of investors who want real estate funding for nothing. In other words, they want to get funding for their projects without any out of money expense. This is very unrealistic. For one thing, 100% financing is very hard to come by. Lenders are wary when funding even at 80% financing, and that risk triples when they do 100% financing. Having said that, it’s not impossible to get 100% financing. But investors needs to be realistic regarding the terms and conditions set by tRead More