A good question came up today during my radio interview with Dave Kebler of WRNJ Radio in Hackettstown, New Jersey.
I was asked if it was now impossible to get a loan, either to refinance a house or to purchase a fixer upper rental house.
The answer is no, it is not impossible to get a loan. Granted, it requires more paperwork and squeaky clean credit, but loan money is still available and at great 4.5% rates for 30 year loans. I have taken out 3 loans in the last 12 months.
Is it worth it to take out loans for investment properties?
The economy is still as flat as Rush Limbaugh’s trampoline, but there has never been a better time to invest. From the perspective of mortgage interest rates and low real estate prices, this is a time of great opportunity.
When I was a Peace Corps Volunteer in Central America, people would ask me if the streets of American were paved with gold. I said, they’re not paved with gold, but they are paved with opportunity. And they still are.
Upcoming radio interviews
Aug. 11, 8:10 am, Mark Wayne show, WICH 1310 am, Norwich, Connecticut.
August 17, 6:50 am, Jason Mansmith show, WRPN 1600 am, Ripon, Wisconsin.
August 20, 8:30 am, I will be on David Sutton’s show, KSRN 1490 am, Los Alamos, New Mexico.
August 25 at 8:08 am, I will be on Jeff Anderson’s show, KSDR 1480 am, Watertown, South Dakota.
