Three tips to help you buy your first real estate investment.
As a husband and wife team who have been investing in real estate for 19 years, we’ve learned a lot from our many successes and failures. We want to share some of the knowledge we’ve picked up along the way, so today we’ll share some tips to help you buy your first investment property:
1. Find a wealthy person who can lend you money. You can borrow money from someone who is financially wealthy. Either split the payment or give them an 8% to 12% return. If you’re going to flip, you can split the profit. Try to get 30% so you can give your investor 15%.
2. You can use your own money. Large banks typically won’t lend you money for an investment property, so we suggest you approach smaller banks instead. We know many small banks that can help with your investment plans, and we can connect you with them. If you go this route, there are four principles you have to remember: cash flow, rental payments, depreciation, and appreciation.
3. Cama Plan. We also highly recommend Cama Plan in Ambler, Pennsylvania, as an alternative solution to your real estate investment. It lets you invest with your IRA.
If you want to learn more about your options when buying a real estate investment, you can always reach out to us by giving us a call or sending an email. We’re here to help!