Where To Find Great Real Estate Investment Loans

You can get a real estate investment loan from commercial banks, private lenders, credit unions, savings banks, and savings and loan associations.

In fact, wherever you get your regular financing and loans, chances are good that you can also get a loan to start your career as a real estate entrepreneur. Of course, just because your regular financial institution offers a real estate investment loan does not mean that you should take out that loan.

Like all debts, you will want to do your research and find not only a loan with a great rate, but also one with great terms.

Before you even go hunting for your real estate investment loan, you may want to take stock. Research the types of loans available. You will find that there are many types of real estate investment loan services out there, so you need to get familiar with the jargon.

For example:

• You may encounter a loan called the residential category loan or the Non-Owner Occupied (NOO) loan.

• This is for investment properties under 4 units which are purchased for future appreciation and rental.

"A commercial category loan, on the other hand, is for apartment buildings with 5 or more units as well as for stores, mixed-use properties, and warehouses."

You will certainly want to consider the term of your real estate investment loan as well.

How quickly will you need the money? When can you begin paying off the debt? How much do you need? Will you also need money for repairing or fixing up the properties? How long will you want to carry the loan? How much can you afford to pay each month on a loan? Working out the answers to these questions on paper before you speak to a lender is crucial, because it really prepares you to speak knowledgably with a lender about what you need.

Since the interest on an investment property loan is often paid from the rental incomes, you are more likely to get great rates if you have a solid business plan as well as a good track record. If you are just getting started in real estate investment, applying for a modest loan and having a solid, conservative business plan in place are important.

This will show the lender that you are serious about making money and are truly prepared for the responsibilities of real estate investing.

To Massive Profits.

Brad Wozny

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