(513) 815-5000

Get My Cash Offer

Blog

  • 6 Tips For Moving Long Distance That Will Make Your Life Easier – Ohio Cash Buyers LLC

    Moving can be tough no matter how far you are going. But moving a long distance can add additional stresses and a sense that you are jumping into the unknown.

    To keep the process as easy and manageable as possible, we’ve put together some great tips for moving a long distance in Ohio.

    1) Pack like a pro:

    Tips For Moving Long Distance - packingThere are many clever tricks you can utilize to pack your possessions efficiently. If it makes sense in your situation, wrap up your clothes in dresser drawers. Don’t leave any loose space in boxes.

    Pack items within each other. For example, put your silverware inside your Tupperware. Wrap linens and towels up in black trash bags, and use them to pad boxes.

    It might not be glamorous, but it is a great way to be efficient, and efficiency is key when preparing for a big move.

    2) Downsize: 

    There is no better time than now to purge your belongings for your fresh start. Even if the new house is similar in style, you are not going to want to bring it all with you. If it isn’t something you absolutely love, now is the time to sell it or give it away.

    Often times people move with all their possessions, only to find months later they are still surrounded by boxes they have never unpacked. If it’s not something you love or need, you probably aren’t going to miss it very much.

    Also, if furniture costs more to ship than it’s worth, you might want to consider leaving it behind.

    3) Take heed when hiring movers:

    Always keep sentimental items and valuables, such as jewelry, with you if possible. For items of value, that you won’t be moving on your own, have the items insured in case they become lost or damaged.

    Make sure to mark boxes with name and address as many big moving companies will move several families items on one big truck.

    4) If possible, drive your car:

    See the county (or state) and make it an adventure. Shipping a car can be expensive and can have ambiguous dates of arrival. Many shipping companies wait until they have many cars to move, before getting your car loaded up and on the road. Being in a new city, without transportation will get very frustrating, very fast.

    Being in a new city, without transportation will get very frustrating, very fast.

    5) Be prepared to buy some new things:

    As with any move, there are always things you will inevitably need when moving into your new home. Think a new dish drainer, silverware organizer, paper towel holder and other similar items.

    Plan ahead and stash a little cash away for these purchases. You don’t want to add any additional stress to the move by worrying about buying the little things you will need to make your house a home.

    6) Be patient and give it a week or two:

    When you find yourself in a new town, it is more than just physically settling into your new house. You must settle in emotionally too. It will take a couple of weeks to really feel comfortable in your new town.

    Get to know the area, and do some exploring. Be patient and you will feel right at home in no time.

    Are you looking to relocate without any stress? Give Ohio Cash Buyers LLC a call now at or fill out this form, and we will be in touch right away!

     

  • How to Move if Your House Hasn’t Sold Yet in Ohio

    So you’ve found your dream home. There’s just one problem: You haven’t been able to sell your house yet. So what do you do? In this article, we hope to help you figure out how to move if your house hasn’t sold yet in Ohio.

    Moving can be tough when you are trying to buy and sell a home all at once. The FHA, Fanny Mae, and Freddie Mac all have rules about getting a second mortgage while you still own your home. If you want to secure an additional mortgage, you will have to clear a few hurdles.

    How to Move if Your House Hasn’t Sold Yet in Ohio

    First off, to qualify for a second mortgage through the FHA, you must meet certain qualifications.

    You need to have a good reason for needing to move right away, and not after your current house has sold. For example, moving because your family needs a larger space, you are separating from your spouse or for work purposes.

    Also, you cannot owe more than 75% of the value of the first home. There are additional restrictions as well, do your homework before assuming you will qualify for an additional loan through the FHA.

    Asking family can be another route, so long as you put everything in writing.

    Agree to pay them back in full upon the sale of your first house. Whenever you borrow money from family, you want clear terms to be set and adhered to.

    If you think a family relationship could be damaged because of money, you might want to look for a different way to secure the financing you need.

    A bridge loan or as it’s sometimes called, a “wrap” loan can help “bridge the gap while you attempt to cover two house payments.

    These types of loans will take both mortgage payments, and combine them into one interest-only payment. These are typically short-term loans, lasting 6 months to one year.

    Lenders have different requirements, but you must typically have great credit and be financing less than 80% of the value of both houses.

    While it may not be your first choice, you can talk to your boss or plan administrator about borrowing from your 401k. 

    Make sure you understand how the tax penalties will work, and pay yourself back after the sale of the original home. This may not be an option for everyone, but definitely, something to look into.

    Try to offer the seller of the second home, the option to rent it back from you for a few months. 

    Depending on their situation, they might love the idea of being able to stay in their home while they shop for a new one. If you are attempting to carry two mortgages, this is a great way to alleviate the cost.

    Add in a contingency in your offer allowing you to close on the new home, only after your home has sold.

    If your home is new to the market and priced well, it should sell right away. Present this to the owners of the second home, along with your offer. Ensure them that the closing won’t be delayed and that you agree to close in a certain amount of time

    Whether you are looking to buy or sell, we can help you with all of your Real Estate needs! Fill out this short form, or give our office a call today!

     

  • 5 Tips For Moving With Kids in Ohio

    Whether you are moving across the street or across the country, moving with kids can be stressful on both you and them! Luckily, the move doesn’t have to be painful for anyone!

    Check out our tips for moving with kids, and make your relocation a breeze! 

    Tips For Moving With Kids!

    Nobody likes saying goodbye. Not to their friends and not to the house they know and love. Moving can be especially hard for children who may not fully comprehend the reasons why you are moving or the reasons why the move will actually be better for them in the long run.

    Tip #1: Talk To Them

    As soon as the move is a definite go, share the news with your kids. Make them feel apart of everything, and openly discuss the new and exciting changes about to happen.

    Reassure your children that all of their possessions, books, toys etc., will all be coming with them and share all of the wonderful and exciting benefits of the move.

    Tip #2: Get to Know Your New House

    If the house is nearby, get your kids excited by going to see it. Let them see their rooms and have them plan out how they want to decorate.

    If you’re moving further away, show them lots of pictures and use google to learn all about the area.

    You could even draw out the room, and let them decide how they want their furniture arranged.

    Tip #3: Let Them Help With Packing

    Make sure younger kids know that their stuff is being packed up and moved and not being thrown away. Older kids might understand the process, but it may be more difficult for little ones to grasp.

    Let them help pack up their toys and then have them decorate their boxes so they will be easily recognizable after the move. As much as possible, try to get their items and room set up first, even if it means ordering pizza and keeping your kitchen in boxes for a couple days.

    Having that sense of familiarity will help keep their anxiety down.

    Tip #4: Get to Know The Neighbors and the New Area

    As soon as possible, become a part of your new community. Introduce yourself to the neighbors. Invite people on your street over for a house warming party.

    Participate in local activities that will allow both you and your kids to make new friends. If your child is on the shy side, talk to them about making new friends and help them think of ways to break the ice with the kids at their new school.

    Tip #5: Keep Your Routines

    Do you always get ice cream on Saturday afternoons? Or maybe you spend Sunday mornings at the park? Whatever routines you can keep, you should do so.

    Try to remain consistent with meal times and bedtimes. Keeping kids in their routine will help keep them calm and will help you feel a sense of order.

    Always remember, while moving might be hard on you, it might be even harder on your kids. As much as possible, stay positive with them and make the whole process a grand adventure. Make the process fun and memorable and as stress-free for them as possible. (It will help you feel more relaxed too!)

    Are you looking to relocate with zero stress? Give Ohio Cash Buyers LLC a call now or fill out this form and we will be in touch right away!

  • How To Use The Internet to Sell Your Home in Cincinnati & Dayton

    Now, more than ever, people are finding success selling their homes online. But with the online marketplace being so hot, you are likely to face some stiff competition! We have put together our favorite tips to help you stand out and sell your home fast!

    Go Where The Buyers Are:

    There are many online listing portals to choose from. Look up some listings in your area. What sites show up first in the search results? Many times, the tops sites are Zillow and Trulia. Love them or hate them, they have a great grasp on generating real estate traffic. When you list something on the MLS, it is likely to be picked up by these major sites. Whether or not you are advertising with them, you’ll want to make sure your properties are showcased well.

    There are services that will syndicate your listing to many top sites, so you only need to enter your information once. However, make sure to check your listing on all sites in which it was syndicated. Automation can sometimes lead to the data being jumbled.

    Consider Premium Listings:

    When you do a property search on any major website, you will likely see certain properties at the top time and time again. They paid to get that top spot. Just as the Agents you see over and over again paid to put their name first. If you want to give your property instant traction, it can be worth the extra cost to put your listing at the top.

    Create a Property Specific Website:

    A unique and interesting way to sell your home using the internet would be to create a property specific website. A basic website and domain won’t cost you much to get started. With a little SEO, content, and imagery, you can quickly build a site to rival the big advertisers when it comes to showcasing your house!

    Use Amazing Photos:

    They say a picture is worth a thousand words, and they are absolutely right. Make sure the words used to describe your house are “Stunning, spacious and immaculate!” not “Dated, cramped and dingy!” When buyers see a photo of your home, it tells them whether or not they want to pursue it further. For many buyers, it is not easy to picture themselves in the home if they are seeing your personal belongings. Get a head start on packing by putting your knick-knacks and decorative items away. Get rid of all the clutter, then hire a professional photographer to take photos of your home. Look through a few listings. Notice who paid for a professional job, and who took cell phone photos from the street.

    Use an Accurate Description of the Property:

    Be as detailed and as accurate about the property as possible. Disclose any defects but also make sure not to overlook the details that may be a selling point for a certain buyer. If you have recently re-done the roof, mention it. If there is a large and bright kitchen, you should mention it.

    Watch Your Words:

    When people are house hunting, the listings can all begin sounding alike and running together. A lack of adjectives will cause every property to be “beautiful” and “cozy.” Don’t blend in with the crowd! Use colorful language to make your listing stand out from the rest. Don’t just gloss over the ad, using generic words to describe your property.

    Use Data To:

    Acquiring, understanding and using data will almost guarantee you a quick sale. Using data, you will be able to:

    • Run comps of recently sold properties in the area.
    • Locate and contact the best agents in town. Online reviews will ensure you find the agent that is best for you!
    • Study market trends for real estate in your area. Ask questions such as: when is the best time of year to sell my Cincinnati & Dayton house? What are the current buyer demographics?

    Are you ready to sell your home in Cincinnati & Dayton? We are ready to help! Fill out this form, or give us a call now!

    Sell my house fast Austin

     

  • 4 Home Winterization Jobs Worth Hiring a Professional to Tackle

    Guest post by Bret Engle

    There’s something charming about getting ready for winter. As you unbox sweaters and stack firewood, don’t forget to make sure your house is ready for the season too. While some winterization tasks can be done DIY, others are above the average homeowner’s paygrade. Here are four projects on your to-do list that you should rely on professionals for:

    1. Install energy-efficient windows

    Inefficient single-pane windows could be spiking your winter energy bills. Replacing them with double-pane windows is a big project, but it pays for itself over time in reduced heating and cooling costs and increased home value. In addition to opting for double-pane, consider how the windows operate. According to the Department of Energy, awning, hopper, and casement windows are more airtight than sliding models.

    2. Inspect the roof

    Between freeze-thaw cycles and heavy snow loads, winter is the hardest season on your roof. Make sure it’s up for the challenge by scheduling a roof inspection each fall. A professional will assess the condition of your roof based on interior and exterior factors. They’ll check for roof sagging, damaged and broken shingles, corroded flashing, and signs of moisture accumulation on the roof, as well as signs of water damage on interior ceilings. It’s best to fix these problems as they arise rather than waiting and needing to replace the entire roof. In Franklin, OH, most homeowners can expect to spend between $6,000 and $8,053 on a new roof, which can make a dent in anyone’s budget.

    3. Clean the gutters

    Sure, you could clean the gutters by yourself. But who wants to spend a day perched on a ladder, digging in the muck? Not to mention, cleaning gutters is one of the more dangerous jobs around the house: According to the CDC, 43 percent of all fatal falls involve a ladder. Hiring someone to clean your gutters costs, on average, less than $200, and the small expense is worth saving yourself the trouble.  

    4. Maintain the furnace

    Fall furnace maintenance should be a part of every homeowner’s annual schedule. Not only do furnace inspections reduce the odds that you’ll end up heat-less in the middle of winter, it also protects your family from a potentially fatal carbon monoxide leak. During an inspection, an HVAC technician will test the furnace’s thermometer calibration, lubricate its motor, and ensure all parts are unobstructed and in good working condition.

     

    While some home winterization jobs are best left to professionals, other tasks homeowners can do themselves to save money and hone their handyman skills.

    Infographic Source: HomeAdvisor

    • Reverse ceiling fans: Many people don’t realize it, but most ceiling fans have two settings: one for summer and one for winter. Flipping the switch on ceiling fans will cause the blades to push warm air downward for winter to keep your house warmer.
    • Replace the furnace filter: A dirty air filter causes your HVAC system to work harder than it needs to, resulting in higher energy bills and a less comfortable home. Throw away your old furnace filter and replace it with a clean filter of the same size before turning the heat on.
    • Seal drafts around doors and windows: Worn-out weatherstripping and cracked caulk give cold air entry points into your home. Check doors and windows for drafts and seal air leaks as needed.
    • Check smoke and carbon monoxide detectors: Fall prep is a good time to make sure all smoke and carbon monoxide detectors are in working condition.
    • Gather snow supplies: Don’t find yourself in a snowstorm without a shovel in sight. Go shopping for shovels, snow melt, ice scrapers, warm clothing, and any other necessary winter supplies before bad weather hits.
    • Prepare an emergency kit: Sometimes, there’s no shoveling your way out of bad weather. Make sure you’re prepared for getting snowed in by buying non-perishable foods, bottled water, batteries and flashlights, and firewood. If you don’t have a fireplace, consider purchasing a kerosene space heater for backup heat.

     

    There’s a lot to accomplish before winter arrives. Hiring professionals for the big jobs helps homeowners get everything done in time so they can enjoy the winter season in comfort.

    Image via Unsplash

  • Short Sale vs. Foreclosure – What’s the Difference?

    Whether you’re a buyer or a borrower / seller, a short sale and foreclosure each present different advantages and difficulties.

    What Is A Foreclosure In Cincinnati & Dayton OH?

    In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source).  If you stop making your house payments… your lender has the right to foreclose on your property so they can attempt to recoup their money that was lent to you. 

    A home is typically foreclosed on when a borrower fails to make mortgage payments. The lending institution assumes ownership and possession of the property, evicting the borrower. These properties are then sold at auction or more traditional means utilizing the service of real estate agents. A foreclosure can damage the credit rating of a borrower, and make it very difficult to obtain a mortgage for many years.

    Depending on the state that you live in… a foreclosure can work in different ways. Check out the foreclosure process information over here at the HUD Government website.

    What Is A Short Sale?

    In a short sale, the home is still owned by the borrower.

    The definition of a short sale is… “A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt” (source: Wikipedia)

    In some cases, a short sale is an option agreed upon by borrowers and lenders. In a short sale, the home is sold for less than the outstanding balance of the mortgage. The unpaid balance (known as the deficiency) may or may not still be owed by the borrower.

    This option typically takes some time, as a few different lending institutions may own the mortgage. All parties who have a stake in the property must agree to the terms of the sale, and a potential deal could fall through if even one lender doesn’t agree.

    Short Sale vs. Foreclosure – Your Options

    While both options can have ramifications, a short sale often has less of an impact on the borrowers creditworthiness. A foreclosure could impact a borrower’s credit score by 300 or more points, where a short sale may only dent the credit score by 100 points.

    Borrowers who are foreclosed on are often ineligible to purchase another home for 5-7 years with a traditional mortgage, where under certain circumstances, a short sale borrower can purchase immediately.

    As many Americans struggle with an economy that has yet to completely recover from the 2008 crash, folks are having a hard time making monthly mortgage payments. Choosing between being foreclosed and initiating a short sale (or a 3rd option…  selling your Cincinnati & Dayton house fast  )is an easy choice for a borrower having troubles paying their mortgage on time.

    Sometimes, lenders are willing to work with borrowers to complete a short sale, to avoid the fees and time consuming process of conducting a foreclosure.

    Our suggestion is always this.

    1. Talk with your lender and discuss ways that they can work with you on your loan. We offer this service where we can help guide you in the right direction if you run into issues with your lender… just reach out to us on our Contact page and we’ll discuss your situation.
    2. Attempt a short sale or other program your lender may have that forgives part of your loan, creates a new / more affordable monthly payment so you can get back on your feet, etc.
    3. If the bank isn’t willing to work with you very much… your best option may be to sell your house. Work with a local real estate house buyer service like Ohio Cash Buyers LLC to sell your house fast for an all-cash offer. If you’re interested we can look at your situation and make you a fair offer on your house within 24 hours. Just fill out the form on our website over here >>
    4. Foreclosure. Last resort is to let the house fall into foreclosure. This is the worst possible scenario. It’ll harm your credit and you could still be left with money owed to the bank even after the foreclosure is finished.

    By knowing your options, you may be able to dodge a significant impact to your credit score, allowing you to purchase a new home when your situation improves. A foreclosure on your credit report makes that possibility extremely difficult for 5-7 years, so if you have the opportunity, a short sale can be the better option.

    Have a pending foreclosure?  We’d like to make you a fair all-cash offer on your house.

    Give us a call anytime at or
    fill out the form on this website today! >>

  • Fur a Good Paws E-Card

    We wanted to share the adorable little e-card we received from Fur a Good Paws! Click on the card to visit their website and see the good work that they do for our furry friends.

  • Where Are the Profitable Investment Properties in Cincinnati & Dayton?

    Where Are the Profitable Investment Properties in Cincinnati & Dayton-Finding a profitable investment property in Cincinnati & Dayton can seem like a fruitless endeavor. You scour neighborhoods, look at countless homes and attend auctions. No matter how many properties you look at, there never seems to be enough of a margin for you to pull the trigger and be profitable. Are there no worthwhile investment prosperities in Cincinnati & Dayton? Unlikely.

    Follow these rules to help you discover the profitable investment properties in Cincinnati & Dayton.

    Where Are the Profitable Investment Properties in Cincinnati & Dayton?

    Meet the Competition

    Like any other industry, real estate investment is a very competitive arena. The pool of investors vying for the same small pool of properties makes it hard to compete – especially if you are new or not well funded. By understanding who you are bidding against for properties, you will get a better insight about how to compete for the good, profitable deals.

    It can’t hurt to join an investment club and meet the competition. Not only do you learn about them, you become colleagues. Investment clubs are great resources to help you learn, develop partnerships,  and build a bigger real estate investment portfolio. This will enable you to acquire profitable deals you may not otherwise have the funds or knowledge to close.

    Redo Your Math

    Profits are calculated by subtracting costs from the purchase price. It is that simple. If you are losing properties to other investors offering higher prices, look at the numbers again.

    Can the other investors do the rehab for less? If so, why?

    Are the sales prices closing higher than you would have expected because of a change in the market? If so, adjust your numbers allowing you to make higher offers.

    Take a look at all line items and determine if you are in the correct ranges for all costs. It may be that you could acquire a property and still make a profit but you aren’t using accurate calculations.

    Become a Better Negotiator

    It isn’t just the competition that you need to gain a better understanding of in dealmaking. Learn better negotiation skills to improve your chances of closing a property at a price that will be more profitable to you. Sellers have needs. Learn what makes sellers tick.

    Part of what makes a seller tick might be financial distress, a family death or job relocation. Knowing why a seller wants or needs to sell or why the property is distressed in the first place will give you trigger points to work into your conversations on price.

    For example, if the seller is dealing with a probate issue, explaining to them that you are willing to work a cash offer and talk directly to the estate executor could help alleviate stress on the seller. You are offering a solution to the existing problem and this often gets results especially if your offer is below what the seller was hoping to get.

    Find New Opportunities

    We’ve talked about real estate investment opportunities as being a numbers game. The more properties you have the opportunity to see and bid on, the better your chances are to find one that makes you a nice, worthwhile profit.

    Real estate investment clubs are one location to open up more opportunities and even find better deals. You can also talk to the local county clerk to get a list of properties behind on property taxes. In some states you can buy the tax lien certificate and make a few bucks to see if the property forecloses, giving you the first right to the property for pennies on the dollar.

    Street signs are also popular ways to attract sellers who may be in an urgent situation. This is a good opportunity to have them call you rather than you doing all the legwork.

    ARE YOU LOOKING TO SELL A PROPERTY IN Cincinnati & Dayton? WOULD YOU LIKE TO GET A FAST CASH OFFER AND CLOSE QUICKLY? FILL OUT OUR FORM ONLINE AND WE’LL CONTACT YOU AS SOON AS POSSIBLE!

  • Common Investment Property Mistakes Buyers Make in Cincinnati & Dayton

    Common Investment Property Mistakes Buyers Make in Cincinnati & DaytonMany people are diversifying away from stock market investments to more tangible portfolio assets. Real estate investments are certainly the most common tangible asset investors start with.

    However, real estate is costly and thus high-risk if you don’t know what you are doing. Avoid these common investment property mistakes buyers make in Cincinnati & Dayton.

    4 Common Investment Property Mistakes Buyers Make in Cincinnati & Dayton

    Underestimating Costs

    “If you buy it they will come,” seems to be the mentality of many first-time real estate investors. They think that just by getting the title on a property, renters will flood in and thus the money will flow. This isn’t the case.

    In fact, there are many costs first-time investors don’t anticipate that end up costing them because they didn’t factor those into potential rents. These include maintenance, advertising, and repairs. Unlike your own home where you might leave a repair for a while, landlords must fix things in a timely fashion.

    Additionally, tenants don’t always remain in the home and often trash the place while living there. You need to factor vacancy time and property rehab in between tenants.

    Poor Location Selection

    It has been said over and over when it comes to real estate, “Location! Location! Location!” Real estate investments are no exception. Buying a property that is in a less than desirable location makes it difficult to both rent and resell.

    Sure, great deals can be found in depressed markets and unsafe neighborhoods, but at what cost? You may have trouble making your money back after a rehab,  let alone making a profit on the deal.

    Rehabbing properties in high-risk neighborhoods can be profitable but you need to make sure you understand the risks. So make sure to research neighborhoods thoroughly that you are interested in investing in.

    Renting to those in high-risk neighborhoods can mean more problems with upkeep and maintenance, including vandalism, drug and gang issues.

    Not Understanding Financing

    Buying a personal property and buying an investment property follow two very different financing principals. You won’t get the same great financing programs and rates available to owner-occupied homes. In fact, everything from insurance to property taxes will increase with investment properties.

    Expect to have higher down payment requirements for investments and be prepared for higher interest rates. Conduct extensive market research to make sure your property will yield the rental income or sale proceeds to pay the higher costs and still have profit.

    Failing to Perform Due Diligence

    Just because you plan on rehabbing a property doesn’t mean you should ignore all the due diligence requirements of sound investing. This means pulling all title reports and having inspections and disclosures note anything that might be wrong with the property.

    Finding out there is a huge lien on the property transferred to you upon the sale could lead to foreclosure. Similarly, not paying attention to a potential foundation issue can lead to thousands in repairs you weren’t budgeting for.

    Buying a distressed property doesn’t always mean you’re buying a money pit; learn to assess properties to properly budget for repairs and prepare for unanticipated costs. There are always unanticipated costs when buying an investment property, even with sound due diligence.

    Start small with your first investment. There is no need to learn the ropes with a million dollar apartment complex. Buy a single family home or a small multi-family building for your first few deals. This way, in case you make a mistake, it will be a bit easier to recover from.

    IF YOU ARE AN INVESTOR IN Cincinnati & Dayton AND ARE LOOKING TO PARTNER ON A DEAL, CONTACT US TODAY!

  • 3 Smart Financing Strategies for an Investment Property in Ohio

    Smart Financing Strategies for an Investment Property in OhioPopular television shows make real estate investing seem easy with guaranteed profits. What these shows don’t show you are the behind-the-scenes tribulations that investors must go through in securing and rehabbing properties.

    If you are new to real estate investment property buying, use these three smart financing strategies for an investment property in Ohio to reduce your stress and improve chances of profitability.

    3 Smart Financing Strategies for an Investment Property in Ohio

    1. Consider Financing That Includes Rehab Costs

    Most investment properties need some level of fixing. Even if you are purchasing the property to rent out, there will most likely be things you need to do in order to prepare the property for rental. Highly distressed properties may need a complete gutting and rebuilding.

    Factor all costs of rehab into your budget. If the cost is considerable, include a contractor’s estimate for the cost of remodeling the property. Seek a mortgage lender that funds loans that include construction costs. There are some smaller, niche specific lenders that do this. Even the FHA has a lending program that includes construction costs as part of one, complete loan.

    Not only does securing funding with these costs help ensure you have the money to fix the property; it also keeps the entire loan under one note. This usually keeps interest rates lower with more manageable payments. Keeping your own cash in hand is ideal whenever possible.

    2. Make a Large Down Payment

    This may seem like a no-brainer, but many new investors think that they can get into a property with 0 to 5 percent down. While there may be some lenders willing to extend credit on an investment property for these terms, the rates are generally higher and only offered to experienced investors with track records and other assets to back the property.

    Lenders view investment properties as the first place a person will “let go” of assets if financial hardships occur. Simply put, if you were to face serious financial issues, you would most likely keep making payments on your personal home and stall any payments in investment properties. This makes investment properties foreclosure higher risks, thus coming in with 20 percent or more is imperative.

    Not only will most banks require at least 20 percent on investment property, the more you put down, the more favorable your interest and loan terms become. Of course, you still need to maintain enough cash and savings to protect your own personal finances and be able to prepare the property for rental or sale.

    Smart investors often use a home equity line of credit on their own home to make a large down payment and then refinance the equity line on the new property, paying off their personal HELOC. This is leverage debt and a common strategy among real estate investors.

    3. Ask for Owner Financing

    An investment strategy not always considered is owner financing. With loans advertised by every financial institution, it has become common practice for buyers to get a loan through a financial institution. However, historically owners often financed property sales.

    You might be able to find great investment properties where owners are willing to finance the transaction. A situation where an owner has the property free and clear of a mortgage but is moving to downsize or perhaps inherited the property might be a situation where owner financing is a very viable option.

    It is always wise to ask if the owner is willing to finance. The structure usually is a short-term loan with a moderate down payment and monthly payments for a fixed period of time. These are great deals but can be hard to come by.

    IF YOU ARE INTERESTED IN SELLING YOUR Cincinnati & Dayton PROPERTY, PLEASE CONTACT US FOR A CASH OFFER. WE ARE EXPERIENCED REAL ESTATE PROFESSIONALS AND CAN CLOSE QUICKLY AND PAINLESSLY.