The Small Business Administration’s new Lender Match service helps businesses and real estate seekers connect with potential lenders in an efficient manner. By answering a few questions, applicants are matched with interested lenders within two days, facilitating loan application and discussion. Before engaging, businesses should prepare by having a business plan, understanding their funding needs, credit history, financial projections, collateral, and industry experience. This preparation boosts the chances of successfully securing an SBA-backed loan.
Lease options on Single-Family Homes (SFH) offer a lucrative real estate income strategy by renting with the choice to buy, requiring initial security deposits that cover down payments. Amassing a portfolio of SFHs in a localized area and focusing on financials enhances profitability. Start with SFHs for market size, low-cost entry, easy financing, no credit checks, and quick returns. Begin by sourcing SFH foreclosures through local clerks and scaling your investments.
Small Business Development Centers (SBDCs) offer extensive support to small businesses and entrepreneurs, providing free consulting, low-cost training, loan assistance, and numerous resources for business growth and competitiveness. With over 700 locations across the U.S. and its territories, SBDCs are accessible and partnered with universities and state agencies, fostering business achievements.
THE HUD HOME STORE at hudhomestore.com is the listing site for HUD (U.S. Department of Housing and Urban Development) real estate owned (REO) single-family properties. AN REO PROPERTY IS REAL ESTATE OWNED BY A LENDER, usually a bank (or in this case, HUD), after an unsuccessful sale at a foreclosure auction. Most of these properties […]
Over sixty active LinkedIn groups exist for real estate professionals seeking to expand their knowledge and networks. Membership is free, providing a wealth of resources such as social media networking, new deal leads, and industry news. Additional social benefits include linking to other social platforms to grow connections further. To join, simply click “Join” on the desired group’s page.
Today’s “Get Rich in Real Estate” seminars focus on foreclosures and variants like probate properties, repo homes, and ‘ugly houses,’ with emphasis on getting early information and flipping for profit. There’s growing availability of foreclosure properties and many online sources provide listings and auctions, along with necessary how-to guides and state-specific rules. These sources offer comprehensive databases, and some promise significant discounts on bank-owned properties. It’s crucial to inspect these homes thoroughly and understand the varying foreclosure laws by state.
P2P lending allows individuals to borrow and lend money directly online, bypassing traditional financial institutions. It offers benefits such as lower interest rates, quick funding access, and the potential for lenders to earn returns of 7-14%. Borrowers can secure loans without collateral, often for varied personal uses. As the practice grows, both parties are advised to understand the associated risks and regulations. Popular P2P lending companies and crowdfunding websites operate globally, providing platforms for these financial transactions.
Crowdfunding is an innovative way to gather funds from many people for ventures like businesses or startups. Equity crowdfunding, a newer form, involves selling company shares to investors worldwide via platforms such as FundersClub.com and Seedrs.com. This process is likened to venture capital but reaches a broader investor base, and requires a clear business description, financial projections, funding goals, and the selection of a suitable platform.
