Mike Eisenga, a seasoned real estate investor and entrepreneur, has several insights for anyone trying to raise money for real estate investments.
COLUMBUS, WISCONSIN, UNITED STATES, Sep 7, 2021 /EINPresswire.com/ – There’s never a wrong time to invest in real estate. Nobody can say that about any other investment decision. As someone with decades of experience as a real estate investor, Michael Eisenga knows this. He therefore strongly recommends adding real estate to your investment portfolio. At the same time, he also understands that many people have difficulty finding the necessary funds.
“Never abandon the idea of investing in real estate because you are unable to bring cash to the table,” suggests Michael.
According to the US Census Bureau, individual real estate investors own over 74% of rental properties. While very few investors have the cash or collateral to invest out of pocket, many can still raise funds for their investments.
Anyone looking to invest in real estate should not assume that they are not qualified for bank financing. There are several programs that could fit perfectly. These include low down payment loans, veteran programs, and rehab loans. Many of them don’t require the standard 20% deposit or perfect credit.
There are two options today that weren’t on the table a few years ago. The first is person to person (P2P) lending. This includes looking for funding from individuals, not banks. There are several P2P lending platforms that investors can use to partner with investors. With P2P lending, borrowers have to repay investors interest.
The second option is crowdfunding. Here the investor pitches his project on the crowdfunding platform in order to collect funds that are made available by many people. In return, the donors are entitled to future investment profits.
Many investors can also get into the field through partnerships with others. There are a few options here. The first is to form a partnership and the second is real estate investment groups.
“Check out all potential partners and put all agreements through a lawyer who represents their interests,” suggests Mike Eisenga.
Finally, anyone interested in short-term real estate investments should consider seeking out a hard money lender. Hard cash loans are high-interest loans that are secured by the property. They are usually designed for quick payouts, ideally when selling the property in question. Because tough financiers value a property above the borrower’s creditworthiness, it is easier to qualify for financing.
About Michael Eisenga
Michael Eisenga is a successful commercial real estate investor with a banking and financial background and a former mayor of the city of Columbus. As President of American Lending Solutions, a mortgage lending company (founded and operated from 2000 to 2018) and First American Properties, he has a track record of starting and operating successful businesses. Mr. Eisenga is also dedicated to real estate development and construction, mainly serving smaller communities. Especially in the area of senior housing.
Michael S. Eisenga
First American real estate
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September 07, 2021 at 20:30 GMT
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