Investing in real estate is a great way to generate passive income and create long-term wealth. There are a few different options you can explore when investing in real estate.
A Home Equity Line of Credit (HELOC) is when a bank allows you to borrow against the equity of your home. This can be a great way to access funds for a real estate investment, as the interest rates are usually lower than other loan options.
A Hard Money Loan is a short-term loan secured by real estate, often used for fix and flip projects. Hard money loans are usually funded by private lenders, and the terms are typically more expensive than other loan options.
A Mortgage is a common loan used to purchase a home. Mortgages can also be used to purchase investment properties, and the terms are often better than other loan options.
Private Money is another option for investing in real estate. Private money is usually funded by family and friends, and is often used as a way to access funds for a real estate project.
Each of these loan options have pros and cons, so it’s important to research and understand each option before making a decision. Good luck with your real estate investment!
For more information:
The Bowen Group, licensed in Virginia
Serving the Entire Hampton Roads Area
The Bowen Group is an independent real estate brokerage, committed to providing outstanding service and value to buyers and sellers. We are widely recognized as the preeminent real estate company in the Hampton Roads area. We are known for developing quality working relationships with our clientele; relationships based on respect, integrity, and trust.
The Bowen Group is a licensed real estate agency in Suffolk Virginia. 3575 Bridge Road. Ste. 8, Suffolk VA 23435