Shownotes
How do you finance your next property? Palak and Niti are back to offer advice on long and short-term loans, as well as financing options that you might not have even heard of yet.
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If you enjoy the empowering feeling that comes with owning real estate but remain unsure as to what your next move is for that second property, then stick around because The Wealth Blueprint has got you covered.
In this powerful episode, Palak and Niti are breaking down the difference between short and long-term loans and then crunching the numbers on what an average deal could look like so that you can see just how little money you actually need to bring to the table.
They're also offering us sage advice on when you should use a hard money lender (almost always) and when it's okay to go with getting a loan from a friend or family member.
And if you're looking to really build your empire, then getting a conventional loan from a bank simply won't do! You'll need a commercial loan as you turn two properties into three, three properties into four, and so on! Please join us!
"You need $25K to $50K to start. You don't need hundreds of thousands of dollars because you can leverage these short-term finance options." ~ Palak Shah
In This Episode:
- 00:27 What is the difference between a short and long-term loan?
- 02:40 What are your short-term financing options?
- 03:54 Crunching the numbers on a short-term financing opportunity
- 05:50 The pros and cons of private money and hard money lenders
- 09:00 What are your long-term financing options?
- 11:44 Examples of long-term commercial financing
- 13:17 What is a DSCR loan?
- 14:46 What should you look out for with both short and long-term money lenders?
Resources:
Connect with Palak and Niti
