How to Finance Your Investment Property in Tuscany Italy.

Get the best loan for your investment property in Tuscany Italy. Whether you are looking for financing for a rental property in Tuscany Italy that you are planning to hold or a fixer property that you want to sell for quick cash. This special report will uncover the place to start on your journey for investment financing.

SPECIAL REPORT:
Paolo Tomasini Discusses
How to Finance Your Investment Property in Tuscany Italy.

Looking for investment properties in Tuscany Italy can be a lot of fun. It is a pleasure to go into a property just dreaming of the profits that the house could bring you in the future. But before you start seriously looking for properties you need to have your financing plan lined up.

If you are planning on financing a rental in Tuscany Italy for the long term it is best to start by contacting a mortgage broker that works with many different lenders.

You will want to find a mortgage broker in Tuscany Italy that specializes in getting loans for investors.

If you are working with a real estate agent you can ask them for a referral. You can also look for investment clubs in Tuscany Italy that will be filled with professionals that can help you find the financing that you require.

You can search for a real estate club in the Tuscany Italy area by going to www.creonline.com on the left look under resources and find the link for real estate clubs.

If you have excellent credit you will have the least amount of hurdles to jump through. When mortgage companies in Tuscany Italy are looking at your credit they are generally referring to your FICO score. This is a compilation of the three major credit bureaus and is the standard for determining credit worthiness in the industry.

When looking at your credit score you will have access to the best loans and more negotiating room with a FICO score above 680.

There are now many different loan solutions available to the investor in Tuscany Italy. You can even find loans that will cover 100% of the purchase price.

If your credit is not excellent there are still options available. You may be able to negotiate the seller carrying a second mortgage on the property in Tuscany Italy.

In this case let’s say you negotiate a price both you and the seller are happy with. You agree to get a loan for 80% of the purchase price and the seller agrees to take payments for the remaining 20%.

It is easier to get a loan for 80% of the purchase price. This is especially true if you have negotiated a price below market value. Maybe you negotiated a sale price of $100.000 while the real market value is actually $120,000.

With this example the lender that supplies the loan only has $80,000 at risk on a $120,000 property. So their risk is much less.

Interview multiple brokers instead of just using the first one you talk to. It is like picking any other professional. You want to shop around the Tuscany Italy area a little to make sure you can get the best solution for your financing needs.

Now in regard to getting loans for fixer properties it is much more difficult to get traditional financing for these properties.

With fixers you can start by contacting a mortgage broker that does traditional financing, but what is normally your best bet is looking for a hard money lender or a mortgage broker that works with hard money lenders.

You can check your local newspaper for the Tuscany Italy area, under financing or mortgages and will usually find a few ads for hard money lenders or investment property financiers in your area.

While traditional loans will only look at the current value of the property, hard money lenders will look at the after repaired value of the property and loan out anywhere from 50-80% of the after repaired value before the property is repaired.

It may be a mortgage broker in Tuscany Italy that has contacts with these investors, in some cases it is simply another investor that has money to invest and simply makes a good return on their investment.

Hard money loans are expensive compared to traditional financing. Generally interest rates are between 12-16% and you may need to pay 3 to 5 points up front.

The benefit comes in the fact that in many cases you can get repair money above and beyond the actual purchase price of the property which is generally unheard of in traditional financing.

You simply look at the costs of hard money loans as a cost of doing business and make sure you include them in your purchase and holding costs so that you end up with the profits you are looking for on the property after all is said and done.

Getting your first loan in Tuscany Italy as an investor can be the most work, but once you establish yourself as a successful investor things become easier.

There is a lot of free information available to you about buying, selling or investing in Tuscany Italy real estate. For complete information about the Tuscany Italy real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Tuscany Italy real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at +39 346 7292506 or email me at info@reportal.it.

For complete details on everything Tuscany - Italy Prestigious, Luxury and Commercial Real Estate visit our website at: http://www.reportal.busyagentpro.com