4 Things to Know When Buying California Investment Property
Posted by Ken Meyer on Tue, Jul 23, 2013While real estate investing should not be undertaken without adequate knowledge, proper preparation and a certain degree of caution, there is a wealth of information and host of qualified experts to help guide the novice investor through the process. These resources can be used to find a deal that suits you both financially and psychologically. Here are a few ideas on how to get started:
When you're looking to buy investment real estate, the private lending community can be your biggest ally. Hard money lenders don't just have money to lend. They also have the vision to realize a deal that is worth lending on. After all, they don't have to check boxes or get approval from higher ups in their bank. In many cases, it's their money, and they're looking to invest it as much as you're looking to borrow it. However, like any industry, some lenders are better than others. Here are five ways to separate the wheat from the chaff and find the best hard money lender for you.
A prudent real estate investment offers an excellent way to diversify your portfolio, earn above average returns and still maintain a significant degree of safety for your capital. Nevertheless, it takes skill and knowledge to uncover the best deals and to bring them to fruition. While many investors start with a single investor property, the process can still be full of complications and unforeseen expenses. Here are some of the simple “Dos and Don’ts” of buying investment properties:
Successful real estate investors have a full stable of tools available to them. You should have a directory full of brokers, managers, contractors, landscaping companies and other professionals that can help you acquire, manage, rehab and maintain your properties. The same rule applies to your capital sources. Banks can be great for cookie-cutter deals and permanent financing, but the private lending industry provides you with financing for the deals that require something a little bit different.
It almost goes without saying that real estate is an excellent investment. But many property investors miss an entire class of opportunities. Many of them focus exclusively on the equity side of the business. By doing this, though, they're ignoring where the money actually sits in real estate -- on the debt side. You can participate in this part of the market by being a trust deed investor and making loans secured by trust deeds. Here are some of the benefits of trust deed investing: