To be successful in real estate investment, you must have a reasonably solid financial foundation. That means having assets, money in the bank, some income, and a good credit history. If you're looking for a no-money-down, sweat equity strategy, this wouldn't be your site.
Lenders are looking for deals, and trustworthy clients. Here is a general list of options:
- Conventional lenders: the least expensive source of money. U.S. Bank just offered a loan on a property I was working on for 3.8%, fixed for five years.
- Hard money lenders: useful to know, I am hearing 10% interest, with two points fees.
- Personal money: this can be friends or family, at five to eight percent interest
- Seller financing: you can always ask.
I found this list of 40 hard money lenders:
http://www.reiclub.com/hard-money-lenders.php
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