People live in all sorts of places, but single-family properties are what come to most people’s minds when they picture a home. Not only are these homes popular family dwellings, but they are also a great investment opportunity. Read on to learn why these properties are ideal for house flippers and real estate investors.
A Safer Investment
Single-family homes are always in demand, which means that they are a relatively safe investment opportunity. Even in periods of market instability, single-family homes are smart investments because local families will always need a place to live. It’s easier to predict the value of a single-family home over time than other types of real estates, such as commercial properties, which means these houses are great for newer investors.
Easy to Find and Purchase
Single-family homes tend to be less intimidating to buy (as compared to other types of properties) because they can usually be purchased directly from a seller. It’s also easier to find homes than commercial properties as there are simply more that come onto the market each day. Because most of us are familiar with the home buying process, it can also be less intimidating to navigate the purchase of a single-family home.
Securing a Loan For Your New Property
Investing in real estate is a great way to make money while supporting your local community. Red Door Funding helps investors meet their investment goals. To learn more about what we offer, call us at 832-539-1099.
The cost of a home is obviously an important factor for anyone looking to make a real estate investment. But the cost of a home is just one of the expenses you must be ready for when purchasing the property. Closing costs are often treated as an afterthought, but they can create a financial burden if you are not prepared for them. Keep reading to learn what to expect when it comes to closing costs.
Preparing for Closing Costs
Closing costs are the fees that you will need to pay in order to close on your new house. These fees typically range from 1 to 5 percent of the total cost of the home. There are a variety of fees that might be included in your closing costs, including inspection fees, closing fees, attorney fees, insurance payments, escrow deposits, and more. Your realtor can help you understand which fees you must pay in your closing costs.
Can I Use My Loan to Pay Closing Costs?
Closing costs can often be financed using one of our loan packages. In order to use your loan to pay for closing costs, the purchase price of your home and all necessary repairs must be under 70% of the home’s ARV.
Are Our Loan Programs Right For You?
If you are an investor Red Door Funding can help you make your investment dreams a reality. To learn more about our loan programs, scroll through our website. When you are ready for your loan, get started by filling out our simple credit application online or by calling us at 832-539-1099.