Apartment loans can be short-term or permanent loans that fund the purchase and/or renovation of an apartment building with rates from five percent to twelve percent. Investors typically use apartment building financing to purchase properties with more than five units that can generate cash flow, build equity, increase leverage, or earn capital gains. If you’re…
About the Author
Allison Bethell
Allison Bethell is a staff writer at Fit Small Business, specializing in Real Estate Investment. Allison has fixed and flipped over 100 properties, including residential and commercial properties. She is a licensed real estate broker in Florida. She graduated from Villanova University with a B.A. in Business and Sociology. When Allison isn’t involved in real estate or writing, she loves to travel and has been to all 7 continents. She resides in the Miami Beach area with her husband and dog.
How to Refinance Rental Property with a Great Rate in 5 Steps
When you refinance rental property, you can generally expect an interest rate starting at 5.04 percent for a 30-year term and a minimum 75 percent LTV. There are typically five steps involved when you refinance investment property. These include things like choosing a lender, applying to refinance the property, and the underwriting process. If you’re…
Vacation Rental Insurance: Cost, Coverage & Quotes
Vacation rental insurance covers your risks associated with potential damage to the short-term vacation property you rent out. Your policy should include coverage for the structure and contents of your vacation rental property as well as potential liability and loss of income. Typical policies cost $2,000 to $3,000, on average, per year. Top Vacation Rental…
How to Start a Real Estate Holding Company or Real Estate LLC
A real estate holding company is designed to reduce an investor’s personal exposure to the risks and liabilities inherent with owning investment property. Commonly referred to as real estate LLC’s, holding companies also isolate income from a property or specific properties, simplifying bookkeeping and taxes. Starting a real estate holding company is recommended for most…
5 Best Real Estate Portfolio Lenders 2018
Portfolio lenders keep their loans on their balance sheet, meaning they don’t have to follow Fannie Mae’s guidelines so they can offer more flexible borrower qualifications. There aren’t that many reputable nationwide portfolio lenders, but we reviewed them all and chose the top five. They all offer portfolio loans with terms from one to 30…
Rental Property Insurance: Providers, Costs & Coverage
Rental property insurance protects landlords against liabilities caused by tenants, other perils caused by weather damage and other potential losses like crime. Most national insurance providers offer rental property insurance to help protect your rental income. Typically, an average policy on a $200,000 rental property costs $1,473 to $1,596 per year. Rental Property Insurance Providers…
How to Evict a Tenant in 5 Steps + a Free Eviction Checklist
Knowing how to evict a tenant starts with understanding the law and knowing when and how to send the right eviction notice. You can evict your tenant yourself or you can hire legal assistance, but that will cost $2,500 – $5,000. The most important part is making sure you complete the entire process legally. If…
Portfolio Loans: Rates, Terms, Qualifications & Where to Find
A portfolio loan is a loan used to finance properties with one to five or more units in good or poor condition or to purchase multiple properties at one time. Portfolio loans are generally used by investors to purchase residential real estate. There are four types of portfolio loans and rates generally start around 3.25%….
Buying a Multifamily Home Investment Property in 6 Steps
Buying a multifamily home of two or more units is different than buying a single-family home because it’s an investment and you need a loan specifically designed for a multifamily property. Buying a multifamily home takes six steps, such as researching the neighborhood and choosing your lender, and the entire process can be completed in…
Cash-out Refinance for Investors: Rates, Terms & Lenders
A cash-out refinance occurs when investors take out a new loan on an existing property to extract equity from that property. Cash-out refinances happen when investors refinance for more than the current mortgage and receive the difference in cash. Cash-out refinances require at least 30 percent to 40 percent equity and have rates around 3.25 percent….
Investment Mortgage Interest Rates: Current Rates & How they Work
Investment mortgage interest rates currently range from 4.75% to 13%, depending on loan type and borrower qualifications. For shorter mortgages like hard money loans with terms up to 3 years, rates range from 7.5-13%. For permanent mortgages like FHA loans with terms up to 30 years, rates range from 4.75 – 5.2% or more. Average…
Best Hard Money Lenders 2018
Hard money lenders offer short-term loans to purchase and renovate properties. With more than 600 hard money lenders in the U.S., it’s hard to find a reputable lender that’s right for you. To help, we looked at a range of hard money lenders and compared the top six below, including their rates, terms, and qualifications….
