Finding Property Financing in the Credit Crunch
Posted July 2, 2008
“It’s becoming a remarkable buyer’s market. But you need money to buy. If not yours, someone else’s. And therein lies the rub. Properties are getting cheaper, but financing is getting harder to find.” — Justin Ford, Early to Rise
by Justin Ford
Baltimore – (TFN): It’s ugly out there.
Properties aren’t moving; sales volume has plummeted. Foreclosures are up 48 percent from a year ago. Real estate prices are down as much as 20 percent to 30 percent in markets ranging from Miami to Los Angeles.
So, of course, real estate is becoming a remarkable buyer’s market.
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But you need money to buy. If not yours, someone else’s. And therein lies the rub. Real estate is getting cheaper, but financing is getting harder to find.
So today, we’ll look at the different types of property financing investors you can pursue. And we’ll look at how to structure your offers so investors understand that (1) your interests are completely aligned with theirs, and (2) you’re offering them a good deal. Read on to learn more.
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