How do I get funding?

[snappingpig]

I am into a lot of businesses but real estate is one of my favorites. I am having a money problem with flipping my house. Does anyone know how to get funding for building additions to houses?

I can't afford any thing at the moment so I am mostly looking for loans.

Thanks

[andrew]

You can look to get a mortgage for making modifications to your house.

Are you aware of the equity position of your house.

If there is equity in the house then you can borrow against it using what is called as home equity loan. With this loan amount you can do the additions to your house.

[snappingpig]

Thanks for the advice Andrew.

Unfortunately, I am not aware of the equity position of my house. Do you know where to find this kind of information?

I am new to the real estate business and don't really know how equity works very well and I'm kind of still in my research phase right now.

Any extra advice is going to help greatly.

Thanks

[kaushal1]

If u r interested in buying real estate then u can take real estate loan and there is also option of commercial loan for buying property for business.

[snappingpig]

Thanks for the advice Kaushal, can you tell me what the difference is between a real estate loan and a commercial loan? Like what kind of APR I am looking at, etc. ?

Thanks

[sakitha]

Hai,

I am Sakitha.

Broadly defined, the term "commercial real estate" can be used to refer to any dealing with real property in a business context. It could involve leasing out office space, owning an apartment complex, or selling real property along with and as part of the sale of a business. It might be industrial or agricultural property. It could even involve residential properties like apartment complexes or rental houses being held for business or income-producing purposes. It can even involve working with the government. Unless the property is a residence where the homeowner is living, you are probably dealing with commercial real estate.

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