Why You Need More Money to Invest in 2024
2024 is approaching quickly! Will you have the money you need? Investing in 2024 will require more liquidity than ever before. What is liquidity? Liquidity is the money that is available to you to help fund deals. These funds are not from lenders, but are instead from you. This includes funds that you bring into your investments, the amount that you put down on a property, and the money that you have to carry on a project. Let’s take a look at why you need more money to invest in 2024.
Changes In Lending
Banks and credit unions are currently driving down their loan to value percentages, which is making it difficult for investors to qualify. As the new year approaches, Lenders are going to require you to be more liquid, have more reserves, and put more money down. So, by having more liquidity, you will have more opportunities, as well as a huge advantage in 2024 over those who don’t act now.
Fill Your Buckets Now
The term, “save it for a rainy day” is exactly what you need to be focusing on in today’s market. There are four “liquidity buckets” that should be filled to the brim for not only buying properties, but making payments, doing construction, or any other expenses that may come your way. These four buckets are HELOCS, Unsecured Lines of Credit, Business Credit Cards, and Peer to Peer Lending. All of these resources cost little to nothing for you to have on hand for the New Year.
Save Today So You Can Invest Tomorrow
The goal is to gather as much money as you can now by filling your liquidity buckets to the brim! As investors, we are all going to need these extra funds for down payments, escrow, paying contractors, as well as any other expenses that come our way. Investors who take the time to prepare, will set themselves up for success come the new year!
Watch our most recent video to find out more about why you need liquidity.
If you have any questions on liquidity, finding HELOCs, or have any other questions, please reach out to us!
We would be happy to help guide you to become more successful in 2024.