Investment properties may be a great way to both build and hold wealth. There’s a reason why so many successful celebrities and businesspeople invest in real estate. Some people are intimidated by the process though, which is where we come in.
Buying your first rental property doesn’t need to be scary. At a high level, there are just three steps. First, get pre-qualification for an investment loan. Second, find the right property for you. Third, finish the buying process.
Where To Get An Investment Loan
The first place to start is with your investment loan. If you aren’t pre-qualification, you may have trouble buying. A seller wants to feel confident that you’re actually able to go buy the property so that they don’t waste their time.
The Rental Property Loan Process
You’ve been pre-qualification for a loan, but the next step is to finish the paperwork. We’ll walk you through every step of the way, so don’t worry about that. We’ll tell you exactly which documents we’ll need to get the loan moving.
In general, this step is all about proving you’ll be able to repay the loan. You will be asked to provide documentation on your current assets and income. Once provided, the lender will be able to finish their evaluation and provide you the loan for your rental property.
Buying investment properties can feel intimidating, but it doesn’t have to be. We’ll be your partner throughout the process. We’ll help you find the perfect loan for your situation. Before you know it, you’ll be on track to owning rental property, providing new income and growing your wealth.
Have questions or need more info? Contact us today! We’d love to sit down for a few minutes for a free consultation on which type of mortgage we recommend.