Hard Money Loans Can Help Kickstart Investments
Real estate continues to grow in popularity as an investment vehicle, especially in fast-growing markets destinations like Washington State.
Yet only about 15% of Americans own property in addition to their primary residence. According to a study by Realty Shares, two-thirds of Americans believe that investing in real estate is beyond their means.
What Does Investing in Real Estate Involve?
Simply put, real estate investing means purchasing property to generate income, whether through long-term appreciation, rental revenue, return on investment, or a combination of strategies. Many investors build wealth over time through owning multiple pieces of property.
Successful investing requires research, hard work, and a clear strategy. Identifying the type of real estate that best suits your time, interests, and resources is an important first step. Follow these pointers to begin your investment journey.
Tips for Success in Real Estate Investing
- Invest in rentals: With the right research, preparation, and timing, purchasing a rental can be the “in” to long-term ROI – and a step towards future security.
- Live in your flip: Avoid additional housing expense by residing in your flip while renovating. Then make money when you later sell the property.
- Purchase multifamily: The need for multifamily housing is on the rise in many regions around the country. Get in on the trend as a landlord, and live on site for added benefit.
- Consider crowdfunding: Minimize time, commitment, and risk by buying into a small portion of a property via a real estate crowd funding platform.
Each of these are proven, creative ways to get started in the real estate industry. With the right preparation, you’ll be on your way as a real estate investor.
Know Your Funding Options: Finance with a Washington Private Money Loan
Finances are essential to a successful investment scenario. As a private money lender with over 30 years’ experience, Gregory M. Russell offers friendly, knowledgeable loan services to real estate investors throughout Washington. Hard money loans can provide fast, flexible funding when traditional lenders say no, and are an excellent funding option for first-time investors. Unlike a conventional bank loan, our direct-funded loans are approved based on your available collateral and repayment plan, not your credit or employment history. We loan up to $400,000. Contact our lending team to learn more. We look forward to getting to know you and sharing our know-how.