But what do you need to be able to do once you find a real estate deal that seems like it has potential?
==> There are 2 things that you must be able to do – these are crucial – once a deal comes along your way:
1) Analyze it the right way to figure out if it’s indeed a great deal or just a lemon.
2) You must be able to get the funds to take advantage of this deal QUICKLY if it turns out to be a good one.
When it comes to really juicy real estate deals, those investors with readily available funds (and ability to prove it) win the deals, hands down.
This holds true for residential deals and commercial alike.
==> What kind of funding will you need?
Well, that depends on what kind of deals you’re going after.
*** For example:
If you are rehabbing and flipping, you’ll need short-term acquisition and rehab funds.
If you rehabbing and keeping properties as rentals, you’ll need long-term financing as well as short-term.
If you going after large apartment buildings, you may need:
1) Equity investors to put up the cash for downpayment and
2) Bank financing for the rest of the purchase price
==> Point is this: No matter what kind of deals you’re going after, having your ducks in a row BEFORE you find the right deal will ensure you GET THE DEAL!
And even if you think you have everything in order already,there’s always better, cheaper, and easier sources of capital out there!