The Unemployed Real Estate Investor
Are you currently unemployed? Do you have savings or a 401K that you could invest? Even people who had to file bankruptcy may still have their retirement in tact.
Some people do.
As another alternative, some of us have relatives who may help us with a problem like this. They may be willing to give you money to invest.
Investing in a business is different from buying a house in that businesses generate income. Some businesses might benefit from your expertise and improve with better management, too. You know what your strengths are and what you are capable of doing.
An income producing asset is very different from one that is only an expense.
This type of investment can make your personal bottom line look WAY better.
For example, if you can come up with a down payment (say about 40%) you may be able to get No Prepayment Penalty Hard Money Loans for and purchase an apartment complex or a building that will have a viable stream of income. The quality of this type of asset is much more than a house as far as asset value is concerned.
This type of income producing asset may make you look like you can afford to buy it even if you are unemployed. You might also be able to get a loan based in the income the business entity or property generates.
No Prepayment Penalty Hard Money Loans
How many income producing businesses are for sale?
Lots of them. People sell businesses all the time.
So what would appeal to you? What would appeal to your investors?
Maybe you could buy an apartment building where you are the apartment manager. You could live where you work and own the business.
Live there, work there and be the owner, too.
Another alternative would be to have specialty apartments for people who have medical needs. You could be an investor and a nurse/caregiver.
You could invest in nursing care homes that accept Medicaid and Medicare. Many people need this type of care. It is a growing market, not just for old people but for younger people with disabilities, too.
Another growing market is any type of assisted living facility. You could also live there.
Even flea markets are a possibility.
It’s enough to make having a job very unattractive, isn’t it?
Now let’s talk about financing since many don’t have the funds to pay cash and even if they did, probably should hang on to a nice chunk of their funds if possible. Unlike the residential real estate market with very limited financing options meaning no job, no loan, there are options, particularly non-conventional commercial financing programs. I’m talking about commercial bridge loans, as in a bridge loan to get you by until you can secure more conventional (and cheaper) financing.
Except for being expensive, these loans can be ideal for the unemployed commercial real estate investor. Let me just name a few hurdles often encountered by commercial buyers that these programs can often help you clear. This is just a very few examples. Also, keep in mind not all hard money lenders have the same requirements, so check around.
Among the unique programs are: No Prepayment Penalty Hard Money Loans, commercial loans with no upfront fees and commercial condo loans for those professionals needing an office. As I said, there are many more so don’t assume you can get financing for your venture’s commercial real estate. There are almost as many programs as lenders. Good luck.
Contact Us at 1-877-655-5625 or 1-828-689-4683 for No Prepayment Penalty Hard Money Loans.
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