Rental Property Investor · Chicago, IL · Member since 2014 · 103 posts · 2 votes
how can I acquire a pproperty using creative financing and make it a rental property? Please Help . The property is for 27,000 already in rent ready condition and I have a section 8 twnant interested in the properry that will pay $900 monthly. How can I finance the property and mqke it a rental?
Investor · Fresno, CA · Member since 2015 · 13 posts · 4 votes
11y
I would try a hard money/ private lender loan, then refi into a conventional loan and pay off initial loan. Sounds like cash flow won't be a problem with this rental.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
11y
Creative financing is about the use of your money, use of assets, meeting the needs of the parties, setting goals that lead to conventional financing, using your abilities and knowledge to earn your way into ownership and using other sources of funding that are available to you, it's not a magic pill for having no knowledge, money and credit.
Alternatives are endless, not knowing what you have available to work with or knowing the motivations and needs of the seller, you can't arrive at a solution, first identify the problems to be overcome. :)