Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
7y
Know where your money is coming from first. Have your investors and lenders lined up. You want transactions to go smoothly. Running around to find money after you have a deal under contract isn't exactly the smoothest way to go.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
7y
Know where your money is coming from first. Have your investors and lenders lined up. You want transactions to go smoothly. Running around to find money after you have a deal under contract isn't exactly the smoothest way to go.
Front Royal, VA · Member since 2016 · 306 posts · 240 votes
7y
agree with @Taylor L have your money lined up so can make offer when find right property. If financing get the preappproval letter and then put in offer. If doing cash offers better have it available. I put in 2 cash offers tonight and have to send proof of funds with offer or nobody take your offer.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
7y
You can't have financing completely lined up until you find a property to buy but what you can do is find a lender that will loan you the money assuming that you find an acceptable property. For commercial lenders, this will mean filling out a personal financial statement and talking to a loan officer. For residential investment loans you will apply for pre-approved for financing just like you would for a home loan.