Strategies to Buying Real Estate

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Connect with me now to talk to a top-ranking agent in your region. The best strategy depends on your particular circumstance. Be sure not to miss out on an opportunity you can take advantage of in your market.

There are some key items new first-time home buyers must consider before preparing to buy.

• What is your budget/ how much cash do you currently have that can go towards the purchase?
• Will you need a loan?
• If you need a loan, have you checked your credit, and does it need work?
• What region are you buying in and what are the typical prices like? (this keeps you more realistic about prices)
• Research various first-time home buyer programs and different loan options - prepare to ask your lender questions
• Research and select an agent to help you. (You can start here, with a referral from me!)

There are many creative strategies to buying property with limited funds and I break a few gems down in my blog post 3 Ways to Invest in Real Estate with No Money.

It is always suggested to hold off on purchasing real estate if you are financially unstable. These suggestions are fast-track tips and resources for those at the beginning of their homeowning/investor journeys.

I recommend having an agent guide you through your particular circumstances - especially if you are very new to this. I will list a few options below:

• Partnering with Someone Who does have Funds
• Gift Money (from family or close friends)
• Lease-to-Own (Lease Purchase /Lease Option)
• Ask your lender about FHA, VA, and USDA loans
• Borrow From Retirement Accounts
• Private Financing

Bonus info:  Explore Gap Funding if you are an investor trying to move fast on multiple opportunities. As always seek guidance from your lender, real estate agent or financial advisor to confirm that this is the right option for you.

Explore this option for fast loans up to $50,000.. 

Would you like to connect with someone who can help navigate this?

More Bonus Info:

You can ask the seller to cover your closing costs—

it’s a common strategy that can save you a decent chunk of change. Sellers sometimes agree to this to sweeten the deal, but in return, you’ll most likely need to offer close to or the full asking price.

Another smart move is to find a lender that helps with closing costs or offers a rebate on your down payment. For instance, Freddie Mac’s Home Possible program, for example, is a gem for low-to-moderate-income buyers. With just 3% down, you can lock in competitive pricing and all the advantages of a traditional mortgage.

There are also down payment programs such as Welcome Home and Journey Home programs some lenders provide for qualifying buyers. As much as $25,000 or so can be offered. Ask your lender!

I can connect you to a lender if you reach out here.

 If you already own your primary residence, there are some great options to consider, but I highly recommend working with an agent and lender (if you need a loan) who understand financing for second or multiple homes.

 Some options are: 

• Cash-Out Refinance
• HELOC (Home Equity Line of Credit)
• Joint Venture /Partnership
• Bridge Loan
• Reverse Morgage (62 and older)

Reach out here to get connected to a lender