first-time real estate investors

How to make a successful offer on your first investment property

August 7, 2024 by Kyle Sennott Leave a Comment

A first-time investor and her team shaking hands after making a successful offer on her first investment property.

So, you are ready to take a leap with your first investment property. You’ve found a lender, contractor, or even property. You are ready to sign on this dotted contract line… Or are you? I bet hundreds of “what-if” scenarios are running through your head right now. Am I overpaying? Is the seller hiding something? Will my lender fund the transaction as they promised to? Would I lose my deposit if they don’t? These are all legitimate questions. These are the risks inherent in real estate investing. These risks are especially high for new investors, those who have yet to gain experience in buying, renovating, and selling a property.

Credit Reports and Financial Well-Being

December 3, 2021 by Kyle Sennott Leave a Comment

In the world of mortgage lending, a good credit score ups the chances of qualifying for a conventional mortgage. Essentially, a high credit score shows that the borrower has a history of paying bills, repaying loans, and maintaining past and current accounts. Credit scores range from 300-850. Generally, a score of 670 or above is a good score.

Compared with traditional lenders, some hard money lenders are more willing to work with investors with poor credit. For example, New Funding Resources doesn’t require a minimum credit score for loan approval. We look beyond credit scores to make our underwriting decisions – but we do look at the scores. You should, too.

Thinking About Becoming a Real Estate Investor? See If You Fit the Bill.

September 1, 2020 by Kyle Sennott Leave a Comment

First-time real estate investors — Doing something for the first time can be exhilarating. This is how to succeed if you are a first-time investor.

Real estate investing is a fantastic way to make money. Whether you are looking to book your profits as soon as possible (fix-and-flip) or are building long-term wealth (buy-and-hold), there are strategies that fit many budgets and investor profiles. However, “many” doesn’t mean all. Not everyone is in a position to take on the risk associated with real estate investing. Not everyone can afford it, and not everyone succeeds. Doing something for the first time in your life is risky; being a first-time real estate investor is no different.

first-time real estate investors

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