As a first time investor, what you want to make sure is to have a really good foundation to get into this business and not lose money on your first deal.
There are a couple of things you will need:
1. Have a decent credit score (640 or 650 and higher) 2. Have two exit strategies in place 3. Have money to cover at least 6 months worth of payments in the bank for the loan and even on your own house 4. Have money to bring to the closing
If you don't have money in the bank, you can get into wholesaling which is a great way to get into this business.
Learn more about wholesaling here:
Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the "Small Builder" borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and "Ground up Construction Loans" for investors only in NC, SC, GA, VA and TN (some areas of FL, as well). North Carolina hard money lenders and South Carolina hard money lenders.
As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management. North Carolina hard money lenders and South Carolina hard money lenders.
