i want to start with buying/fixing properties,then renting out, my question is do you finance after fixing, how do you cash out? is there a way to learn it?
That seems like a very vague question.
There a lots of books written on the subject, many available on this site.
I have had great luck with doing land contracts, and financing after I get tenants in place and improve the value of the house to the point of the LTV being greater than 70%.
Hi Eman,
I am by no means an expert but in today’s economic climate you have to be prepared to have some of your own money in the deal. You will need either good credit or cash. Without both of those investing is going to be really tough.
I just bought my first investment property last year. I did get a HML for the purchase and repairs but only after I could show that I had the money to pay off the loan plus a downpayment.
Once the property was renovated, I did a refinance in to a normal mortgage (in my name) 30 Year fixed interest rate of 6.38%
I was able to refinance up to 75% of ARV so I got most of my downpayment back. I can now use that for my next property.
Good luck and read a lot on this forum, Mike (PropertyManager) has some really good advice for starting a rental property business.