Purchasing a new home can be exciting…when you move in!
But before move-in day comes, logistics take the front seat. In order to even begin to look for your dream home, you need to know how much you can afford to pay. To begin this pre-approval process, you need to investigate different mortgage lending sources to see which one offers you the best deal. Here are four easy steps to take when searching for your mortgage.
If you’ve decided it’s time to move up to a bigger home or a home in a more coveted area, your next challenge will be getting there financially. It’s likely you’ll need more cash, a larger income and, perhaps, better credit than you had when you purchased your current home. Putting all the pieces in place for the move up could take some time and detailed planning.
These condo units do not qualify for financing as individual units because of the overall owner occupancy factor within the complex. But by offering at least 3 of them for sale as a group, I can get them financed as income property.
So, while I don’t like to use the term “triplex” because it is misleading, as an investment that is what I am offering.
If you’re shopping for a mortgage right now, chances are you’ve heard a lot of opinions about how much you should spend on a down payment. Many people think that the more you can spend on a down payment the better, but there are some factors at play that may dissuade you from making a large down payment. Keep reading to find out what it really means to make a small or large down payment on a home.Read More Investment News
For our July Property of the Month, I have selected Dutch Brothers Coffee in Redmond Oregon, because it represents the ideal situation for those investors who are looking to make a start in this field of passive real estate investments.
- It is: Priced at just under $1.5 million
- It is: new construction (2017)
- The lease is for 15 years with 4 – 5 year options to renew
- It is an absolute triple net ground lease, which means the landlord has no responsibilities at all.
- It offers a 5.3% return on your initial investment.
- Income increases 3% per year to cover inflation.
- Dutch Brothers is the largest privately held drive thru coffee company in the United States
- The area has seen a ten-fold increase in population in the past 7 years.