Making sure that you are “ready” for your loan involves establishing your goals and tailoring a loan to fit the house you are borrowing again. A loan should be made to fit you like a glove. Remember, if the glove don’t fit you must pass on it! Each house has its own personality. It may be a better buy and hold than buy and sell. Maybe the perfect strategy would be to lease purchase the house. In that case you should ask about the adjustable rate mortgage loans available. Figure out what your own person goals are prior to making an offer. Does that house lead you toward your goals? Find a mortgage broker who understands what your goals are. He or she should be able to help you meet those goals and help you stay on track by informing you of the type of mortgage that best suits you needs for that house and your goals.

So the first step is to write down your goals for the next 1, 3 and 5 years. What will it take to get you there? What type of houses should you be looking for? What kind of chances are you willing take if any? Who needs to be on your team to help you get there? Have you shared your goals with your team?

I know this may seem like a round about way of getting a loan. Most mortgage brokers are happy to do a loan for anyone who qualifies. Why would they not be, they are making money. What type of loan you are getting for the property is important to defining how you are going to reach your goals. Stay on the path and don’t get swayed by a good deal that doesn’t necessarily fit your goals. Pass it on to your favorite investor friend. The quickest way to anywhere is a straight line.

Stay in line!

I hope you have enjoyed this article. For more articles on real estate investing, to sign up for our free newsletter and listen to free weekly training teleconferences please visit our website at www.LarryGoins.com where you will also find free forms, documents, EBooks, Downloads and more. Also visit www.FinancialHelpServices.com for investor financing.

Thank You, Wendy Sweet