Getting started in creative financing sometimes happens by accident.
When people start doing creative financing, it's usually as a path to buying their own homes; for others, it's to build up their real estate investment portfolios.
And some people use it to build up their communities.
Creative financing is known by a lot of names and is made up of:
Whatever name you know creative financing by, the point of each of these strategies is the same.
Get a home without a downpayment, low or no interest and with no or bad credit.
While falling into creative financing is the outlier in most cases – and not everybody will be able to sell a car for thousands over the KBB value – you can get into creative financing by finding someone who needs help.
But Pace! I heard creative financing is sketchy and wrong! What you might not understand is that creative financing starts with someone in pain and in need.
A seller benefits from creative financing strategies as much as a buyer like me does if they:
Are behind on their payments and facing consequences because of that.
For those folks, there may not be any other way for them to get out of their homes. Especially in a time like now when people are fearing an oncoming storm called recession.
But times of economic downturn aren’t the only times to get into creative financing!
Any time is a good time as long as there are homeowners who need your help!
I’ve had people literally throwing their homes at me lately, so believe me when I say there’s plenty of opportunities to help!
You can learn more about my journey into creative financing and my success in the video below.
Just like what I said to the guys at Real Estate Disruptors, you can learn these techniques online in your own time, but you run the risk of learning from someone who doesn’t know what they are doing. I’ve been there, done that, hard pass.
OR you can join the amazing community of people who do this all day every day and offer free, local help.
Let me tell you that there’s nothing like having someone who dove in head-first so that you can jump in and start swimming right away.