Hello BP World,
I am a property manager in Southern Wisconsin and I work with numerous investors. I am curious about some creative financing some of you may have used in the past. I understand typical means of financing, so please share any tricks or ideas you have discovered in the past. Any input would be greatly appreciated!
Hey Calvin, I just listened to the BP podcast episode 14 this morning on creative financing and cash flow. Might want to skip ahead about 15 mins, It starts kinda slow but has some good info on creative financing.
not sure what you are after, I have never understood the need for creative financing, if you cant maintain a good credit score, save, and find a great deal, i fear you will not do well in real estate long term
@Henri Meli I have self funded all 23 houses and 4 lots I currently I have 12 loans, and 2 LOC's (encumbering 4 properties) if you buy right and force equity with a good buy and rehab, its not that hard, I have done this only financing 60% LTV and flipping a couple houses along the way. The key is buying a GREAT DEAL keep your debt low, and your amortization short, I know this is contrary to what all the podcasts preach, but when this market falls I will be safe, I currently owe about 35% LTV all commercial notes at local banks, its not that hard to do if you are disciplined
@Scott Schultz I mentioned in the post I am looking outside of a conventional loan. Thank you for the advice, but I am unable to self-fund at the moment. Looking on working towards that in the near future.