Finance With an Equity Loan From Oregon Hard Money Lenders
If you’re planning to invest in real estate in the upcoming year, the more prepared you are ahead of time, the more confident and competitive you’ll be when the right opportunity comes along.
For investors interested in rental properties or fix-and-flips in Oregon, the quieter listing months of November and December are an excellent time to strategize and get organized. This off-season window is the perfect time to position yourself for success in the new year. Once the calendar turns, when competition increases and desirable properties move quickly, you’ll be prepared to land your ideal investment.
Use the following checklist to guide a successful real estate investment purchase:
7 Steps to a Successful Real Estate Purchase
- Know Your Credit Score: Check your credit reports. Clean up any items of concern and understand how your credit score will affect financing options. Consolidate credit and don’t open any new accounts.
- Build Cash Reserves: Keep spending to a minimum. Request financial support from family in lieu of other gifts for the holidays.
- Create a Budget: Develop a budget, including purchase price and closing fees, renovation costs, maintenance, and contingency fund.
- Find a Real Estate Agent: Research reliable agents. Ask for referrals from family, friends, and coworkers. Interview a select list of agents to find a good fit.
- Track the Market: Become familiar with market trends and interest rates. Determine your investment strategy and research potential purchase areas based on your budget.
- Lock in a Lender: Reach out to prospective mortgage lenders to determine financing options. Identify private money lenders – a popular funding source with experienced investors.
- Get Financing in Order: Apply for preapproval – a must in a competitive market when the right property comes along.
Less Than Perfect Credit? Talk to Our Oregon Private Money Lenders
Knowing your credit score and financing options are essential steps when preparing to invest in real estate. Traditional mortgage lenders often say no when credit isn’t ideal. But with sufficient equity, the Gregory M. Russell private money lender team can offer fast, flexible funding for your rental property or house flip purchase. We approve loans based on your available collateral and exit strategy, not your credit score. And our customizable hard money loans close in just days, helping you to move quickly when purchase opportunities arise. Call 1-888-477-0444 to learn how we can make your Oregon real estate investment goals a reality.