Making real estate investments is a smart way to put your money to use. Not only are you putting your money in something that will have a stable value over time, but you can make money during the time that you are owning this piece of property. That is why we often recommend residential properties such as apartment complexes or multi-family properties as something that you should purchase as a real estate investor. But the fact is that you cannot always come up with the money up front, which means that a loan is required.
If you are seeking a loan, such as the HUD 223 F, you will want to ensure that you are doing things in the right way. What we would suggest is that you speak with a lender that can assist you throughout the process, as they will ensure that you are getting the best rates and all the conditions that you will need on the loan. The program that is giving you this loan is one of the best in the market, because you get a 35 year fully amortizing loan. It is a perfect loan for someone who wants to own this property in the long term.
With every loan, there are good and bad aspects. If you are someone who only wants the property for a few years, it may not be the best loan. You may want to find an adjustable rate loan that you can use before you sell off the property. But if you are committed to this as a long-term venture, and you can see yourself being a landlord for the next few decades, then you are in luck. This is a property that will get you exactly what you want as a real estate investor. We think you will be very pleased.