Posts Tagged ‘ Real Estate Investor ’
In the case of a government-insured loan or a government-guaranteed loan such as FHA (Federal Housing Administration) or VA (Veterans Administration) loans, it may take anywhere from 45 to 75 days to fund the loan and close the escrow! Again, early on in our investing career adventure, we tied up a 3-bedroom,1.5-bathroom condo.
The questions beginning swirling again in their heads. What if they don’t qualify for a loan? What if they do qualify for a loan? Who is going to take care of the pool? What if the pool does leak? In our case, three weeks after we had accepted the buyers’ offer, and three days after we had finished repainting, installing the gas line, and removing the tree, the buyers backed out.
Finally, we had a tree removed from the pool area because the buyers were concerned that the roots were going to crack the bottom of the pool. Can you guess what happened? The buyers came down with a disease that all retail buyers get during the course of a real estate transaction.
We have found that most real estate investors flip their properties to retail buyers. You may have seen the billboard ads that read, “We Buy Ugly Houses ” These are real estate investors who pay wholesale for property. They go in and fix up the property.
