Rental Property Investor · Palm Coast, FL · Member since 2018 · 7 posts · 1 vote
When first starting out do you find the deal first or lock down financing? Many agents will not show you properties without a pre-approval letter. Ready to dive in ! Not sure how to initiate.
Rental Property Investor · Salem, NH · Member since 2016 · 460 posts · 276 votes
7y
Hi @Marissa Duran, this is a no brainer! ALWAYS ALWAYS ALWAYS get your pre-approval letter BEFORE looking at properties IF you are a serious buyer who is ready to pull the trigger. Reach out to a few local lenders and find the best rate and find someone who has good communication skills. Best of luck on your search!
I recommend locking down your financing first. There's nothing worse than losing a smokin' hot deal because your funding took too long or failed entirely.
Make sure you find an investor-friendly mortgage broker/banker who will talk straight and deliver under pressure. Your local real estate investors association (REIA) should be able to suggest a few. (Of course, do request and then check references!)