banker

I wrote an article last week about creating big goals. I think goals are extremely important for investors and anyone who wants to succeed in life, but if I had to start all over as a real estate investor, goals would not be my first action. My first action would not be education or finding a mentor, although these are extremely important. My first action would be to talk to a lender.

Why Talk to a Lender First?

If your reading this article you already have some idea you want to be involved in real estate investing in some manner. I would estimate 99% of the people on BiggerPockets want to be able to buy an investment property of some type at some time. The other one percent are pretending to be investors, but are actually trying to sell something. If you are an investor looking to buy investment properties you will most likely need financing. Very few of us are coming into real estate investing with $1,000,000 in cash ready to spend. Even if you have enough cash to buy a property without a loan, I think leverage is a wiser move as I described in this article. Getting a loan on an investment property is not always easy to do and sooner you talk to a lender the sooner you can get started investing.

What If I Know I Can’t Get a Loan?

If you know you can’t get an investment property loan right now, then it is even more important you talk to a lender ASAP. You need to know exactly why you can’t get a loan and …read more