Ep. 287 Putting Together Real Estate Deals w Creativity, Not Cash

39 Replies

@Blake Palmer you can advertise on Zillow, Craigslist, put obnoxious signs in the yard like the ones below. Or you can partner with a realtor who will allow you to list it in he MLS and pay the realtor a fee and in the listing state that there is a $500 commission for a realtor brining the tenant buyer.

Updated 9 months ago

I guess the picture of the yard sign was removed. But we put up yard signs and they are pretty effective.

I am from western Massachusetts and I heard about a grant given to first time homebuyers from the state, was wondering if anyone had any knowledge about this/how do I apply for grants within my area

@Louis Siano Talk to a local bank and ask about Mass Housing.  They have grant money available.  You'll have to attend a first-time buyer's workshop and meet the credit and income limits.

Last I heard, it was up to $11,000 in down payment & closing cost assistance.  

PS - probably best to start a new post for questions unrelated to the topic.

@Mindy Jensen   Quick question: I listen through Google Play and this week's podcast didn't post on my android device as it usually does. Do you think this is a local error on my device or do I need to plan to listen in a different manner? Thanks!

@Joe Gamatoria I also use Google Play and for some reason this podcast, and the money podcast haven't updated since their newest episodes. It's not your device specifically. I mentioned it to @Mindy Jensen on the episode 28 Money podcast post, and she mentioned she has contacted Google. I'm guessing it is still in the works, I may resort to another method while this issue is fixed.

thank you for the insight @Charlie MacPherson ! I’m still new to the site so forgive me. I will be checking in with a bank about the benefits this week!

I can't wait to listen to this episode! 

@Cody Deppen

I finally broke down and listened to it streaming from the BP site, but I had to restart it when I had to pause it getting in and out of the car. All good - great information - well worth the trouble. I was just attempting a lease option purchase the other day in order to not use a credit line. Great timing!

I take it no one else has had issues with uploading this podcast on Google/Android devices? I've been using Google Play, and this has not appeared in my feed, yet. Google's help says it doesn't appear to have been uploaded, b/c she didn't see it either. 

I have been actively driving for dollars! I have found some promising potentials. I don’t even have the money yet to buy them or even a wholesaler to pitch them to. I’ve had little to no luck getting in contact with the homeowners,But I’m believing for the best in-spite of all that! I’m expecting something to come my way but until then, I’m finding a door that leads to my goals!!!!

I have heard that Google is having issues with Play. It's available on Google Podcasts, and it appears on most podcast apps.

I told myself I'll listen to all the podcasts from oldest to current. Reading the comments on this episode is testing my will power. Currently on Ep: #128

Originally posted by @Blake Palmer :

Great podcast. I'm currently in the middle of my first flip and it's looking like I'll basically break even unless it sells for more or less than expected. Been thinking about BRRRR instead of a pure flip since building a rental portfolio is the ultimate goal, but the equity just isn't there for that "repeat" part of the BRRRR. And it's not an ideal property to hold long term. A lease option might be just what the doctor ordered.

Question is, how do I find a tenant buyer?

From what I hear that isn't the hard part.... they will blow up your phone, I am told.  FB marketplace forums are another good (free) resource.

I think a better question is having a process set up for once they do call in.  You'll probably not want to get too much into generating mortgages or creating notes or things that might be regulated.  Might be worth getting with some RMLO there in MS where you live, and talking to them about maybe steering the leads over to them to get qualified.  Might learn a ton just from their website. 

Awesome, opportunity you are pursuing.

I posted something a few days ago about financing deals, but didn't get many responses.  I'll have to listen to this as I'm a newbie and was inquiring about creative funding for buy and holds after you purchase your initial.  I'm interested in utilizing my homes equity by funding my down payment with funds from a HELoC, but want to get into the 800 club to get the best mortgage rates.  I'm slowly, but surely climbing, but want to jump in so bad.  Well wishes BP fam :)  

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here