Real Estate Appraisal Blog

Start by finding a property that would make a good addition to your portfolio or allow for a quick flip. Look for the right creative financing strategy once you have selected a property.

Answer these questions to determine which financing strategy makes sense for you:

1. Do you have any capital available that could go towards a down payment and other expenses such as closing costs or repairs? _____________________________________________________________ 
2. What kind of outcome do you expect from your investment? What kind of profit margin are you comfortable with? _____________________________________________________________

    

3. Would you rather hold on to a property on the long-term to generate a regular income or purchase a property and sell it right away for a profit?

   _____________________________________________________________
   

4. What kind of profit are you expecting from the property you are interested in? How much can you afford to spend on monthly loan payments?

   _____________________________________________________________
   
   

5. Do you have an exit strategy in case the property does not sell right away or you cannot collect rent for a while?

   _____________________________________________________________
   

6. Would a traditional mortgage make sense for you? Would you consider financing part of the value of the property with a traditional mortgage?

   _____________________________________________________________
   
   

7. Do you have any equity you could borrow against? If not, what does the seller think of seller financing?

   _____________________________________________________________

8. Are there any other creative financing options you could use, such as partnering with another investor, becoming an owner occupant or using a credit line?

   _____________________________________________________________

9. Is there enough room for an interesting profit margin with the creative financing solution(s) you selected once you take as repairs, maintenance, and other unforeseen expenses into consideration?

__________________________________________________________________

Your answers to these questions will help you determine if the property you are interested in would make a good addition to your portfolio or allow you to make money with a quick flip.

It’s important for your creative financing strategy to be well planned, account for unforeseen expense, and include a solid exit strategy.

 3 Tips for Selecting the Perfect Home



(Family Features) For those beginning the process of home buying, there are many factors to consider. Keep these ideas in mind as you conduct your search - whether it's online or at a series of open houses.

Consider future needs
Because life is always evolving, it's important to move into a home that has enough space for your family's anticipated changes. While features and space are always prime considerations, don't forget to, look into the area schools, day care options, parks and other kid-friendly amenities if you plan to grow your family in your next home.

Look for flexible spaces
Seek homes that offer rooms with multiple functions. For example, an office area may be suitable for a small child's room, or a sunroom may be converted to a laundry area down the road. Unfinished basements are also blank canvases that can be customized to meet your family's wants and needs.

Get to know the area
The purchase of a home goes well beyond the property line. Be sure to examine the neighborhood in which the house is situated. From the condition of the neighbors' houses to highway access and the proximity of necessities like grocery stores and gas stations, be sure to take every factor into account to help ensure you're selecting the right location.

Find more tips to aid you in your home search at eLivingtoday.com.


Photo courtesy of Unsplash
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Source: Family Features

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