Today more than ever before it is important to make the right choice when it comes to investing in real estate. With real estate investment grade assets being one of the best ways to build wealth, investing in residential or commercial real estate simply make smart financial sense. Here are a few notable ways of investing in property by leveraging the best financing options and strategies available today. For example, making a large down payment is always a good way to secure an investment property. One advantage is that by putting down 20% or more, investors can enjoy better interest rates. Conversely, it is also possible to acquire a second mortgage if making a large down payment is not possible. Working with your Atlanta investment adviser is the best way to know for sure which strategy will be best.
Getting The Most Out Of Atlanta Investment Property Financing
Another important aspect of getting the most out of investment property financing is to be a solid borrower. Always consider loan-to-value ratios because this can have a large impact on a loan associated with investment property. Know your credit score before attempting to negotiate a deal on a property. In most cases, a score above 750 will ensure the best possible financing available. Those with a score below this value will likely have to pay additional fees to get the best interest rates. This is usually referred to as paying points. Those with lower credit scores may end up paying one point or more to secure the same interest rate that those with a higher credit score have access to on a daily basis.
Have Adequate Reserves To Cover Any Potential Vacancies
Having at least six months of reserves available in the bank can improve your overall financing potential. As an added note, investors with multiple rental properties should have adequate reserves to cover any potential vacancies in multiple properties at any given time. Equally important is to avoid working with the largest banks. In many instances, working with local neighborhood banks to acquire financing for an investment property can be far more advantageous than working with large national financial organizations.
Taking Advantage Of All That In Atlanta Mortgage Broker Has To Offer
In short, local neighborhood banks will offer greater flexibility and will understand the local market far better than a national organization. Equally useful is to consider taking advantage of all that an Atlanta mortgage broker has to offer. Mortgage brokers are often preferred simply because they have access to a wider array of loan products. This means that investors have more options and more opportunities to finance a property in Atlanta or one of the surrounding communities. Contact Wiedmayer & Co. today to learn more about Atlanta real estate investment opportunities.