Bridge Loan Network

Looking to Buy? Consider A Tiny Home!

If you are familiar with the real estate industry, you’ve surely heard of the new “tiny house” craze. This movement is a way for home-buyers to save thousands of dollars, and valuable time on home improvement projects, by purchasing homes that are way smaller than a normal property. On average, the typical American home is between 2,000-2,600 square feet, whereas tiny homes generally weigh in between 100-400 square feet. Coming in all different styles, and materials, these houses may be the new future of real estate.

Some people scoff at the idea of living in such tight quarters, but there are a variety of reasons people are choosing to downsize their living space; the main reasons being cost, environmental concerns, and the itch for more time and freedom. With over 70% of Americans facing credit card, and student loan debt, the idea of a tiny house sounds extremely appealing. Certain tiny home kits can go for as little as $10,000; which is a steal in the grand scheme of housing.

According to thetinylife.com, there are an abundance of reasons why you should buy a tiny home:

68% of tiny house owners do not have a mortgage, compared to 29% of U.S. homeowners.
The average tiny house is 186 sq. feet compared to the average 2100 sq. foot U.S. home, which is the equivalent of 11 tiny homes. The environment would thank us if we carried out this housing trend.
89% of tiny house owners carry less credit card debt than the average American.
65% of tiny house owners carry zero credit card debt.

Giving up square footage is a small sacrifice to save thousands of dollars, and endless amounts of time. A smaller property means smaller messes to clean, and smaller yards to maintain, resulting in a better quality of life. Also, aside from the money, our planet will thank us since buildings contribute to roughly 1/3 of our greenhouse gas emissions.

If you’re in the market, and looking for a unique style of living, consider purchasing a tiny home, because your wallet, and our planet will thank you!

Author: Tara Doherty

Investing The Right Way

Investing in the real estate biz can be a great source of income, but you must jump through a few hoops before you gain a profit you are satisfied with. When people first start out in the industry, they often wonder how they will acquire the necessary funds to start investing in the industry. When it comes to fixer-uppers here are a few ways fund your first project;

Banks – While banks usually offer relatively cheap interest rates, they often require a large down payment. However, if you have good credit, and 45 (or more) days to close, then banks are a great option.
Private Lenders – Opting with this route allows you to dictate the terms, and structure the deal. Private lenders are often harder to find, but they offer a lot of flexibility.
Hard Money Lenders – As one of the most popular, and easy to access options, hard money lenders are an extremely flexible option. While this option can be more expensive than other funding outlets, hard money lenders will get your deals closed on a timely basis.
Joint Venture Partnerships (JVs) – This type of partnership is rather popular. Usually the JV money partner funds all of the money needed for the deal, and the other partner manages the contractors, and delegates the transaction. This method allows you to arrange the partnership anyway you see fit, and you can also split the profits accordingly.
Your Own Personal Money– If you have the means necessary, cash is a great way to fund real estate deals. Most people do not have enough money to take this path, but self-directed IRAs are also a way to fund the transactions.

While investing often seems like a daunting task, these various methods can help make your real estate dreams a reality. With the right tools, and proper funds, the real estate opportunities are endless.

Author: Tara Doherty