Real Estate Investing Always Have a Back-up
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Real Estate Investing: Always Have a Backup
Summary
Learn how to boost your success in real estate investing with one simple yet effective principle.---
The Importance of Having a Backup Plan
In real estate investing, one rule stands out: always have a backup plan. Recent experiences have highlighted this crucial lesson for me, especially when a promising deal almost fell apart.
The Deal That Almost Got Away
A wholesaler friend introduced me to a three-bedroom, one-bath home on a quiet, prideful street. With upgraded plumbing and electricity, the property only needed cosmetic touches and an additional bath. I agreed to purchase it for $52,500, and the as-repaired appraisal came in at $86,000?"a deal with great potential.
When I reached out to my hard money broker, everything seemed on track for a smooth closing. Then, unexpectedly, the funding source changed its criteria, only willing to invest in properties valued at $250,000 or more.
The Backup Plan in Action
Faced with this setback, I turned to my backup hard money broker. Unfortunately, it took five days, only to learn they would only fund
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