Learn How You Can Start With Real Estate Investing
There are 2 main options for investing:
1. Deal by deal basis. I send you a property with purchase price, rehab costs, estimated closing costs, and estimated net profit. You decide if you’d like to fund the deal. Some investor’s fund just the purchase price and some choose to fund that and the rehab cost. In either case, you get paid at close your initial investment and the interest whether I make money or not. This type of investment is extremely secure because a mortgage is filed on the property that you fund. You are also listed as the first insured on the insurance policy. Interest rates on these types of loans vary depending on amount and length of loan from 6% to 10%.
2. This is a more long term investment and is secured by a contract between the lender and Wright Way Realty LLC. You can choose to receive monthly interest payments or accrued interest over the life of the loan. These types of investors allow me to bid on homes more quickly because I have cash in the bank to close quickly. People that have money setting in a bank account making little to nothing in interest prefer this option because it’s a no hassle way to put your money to work for you.