For many of us, our most significant investment and largest profits in life are due to having bought a house — something that acts as a de facto bank account, grows in equity and provides shelter all at once. But what if we want to use real estate as a money-making opportunity instead?
I work with investors on several fronts, coaching, advising and how to obtain financing on any real estate deal. There are so many financing programs that are available and attractive for any type of property and investor.
It’s a completely different arena buying a Non owner Occupied (NOO) or commercial property and is very flexible.
Just to name a few different ways to access financing for your project;
1. NINA- No income, No Asset documentation often referred to as “No Doc” mortgages. The borrower is required to provide any financial information regarding their income or assets.
2. SISA – Stated Income/Stated Assets, Loans only require the borrower to state their income and assets situation but do not require the verifications of income and asset information.
3. SIFA or SIVA – Stated Income/Full Assets or Stated Income/Verified Assets, only requires the borrower to state income but must provide asset documentation information.
4. NO Doc – No additional income docs required. This is normally an asset-based loan and the subject property is looked at solely for determination of value for the loan amount lender is willing to risk.
5. Low Doc – Minimal docs are required to determined income for borrower. Examples would be, personal or business bank statements for 12 to 24 months.I have a really cool eBook for investors, go ahead it's FREE Download HERE
SR Loan Consultant