Investor · Jacksonville, FL · Member since 2023 · 12 posts · 0 votes
Hey guys,
Just wondering because I am a beginner investor, I am currently located in Florida and curious to ask some more experienced investors who have done a creative financed deal particularly an owner financed deal or a lease deal where some of those deals were sourced? Facebook, craigslist, or a typical strategy that worked for them to starting out.
Real Estate Agent · Member since 2019 · 143 posts · 74 votes
3y
Hey Corey there are several ways to source owner financing or lease option deals in real estate:
Networking: This can be done by attending local real estate meetings, joining real estate investment clubs, or connecting with other real estate investors. Building a strong network can lead to deals being brought to you, as well as providing an opportunity to learn from other experienced investors.
Online Marketing: Utilizing online platforms like social media, websites, and online marketplaces to find potential deals. This can be done by reaching out to homeowners or landlords who are open to owner financing or lease options, or by searching for properties that are already listed for sale with these terms.
Direct mail: Sending direct mail campaigns to homeowners or landlords who may be open to owner financing or lease options can be an effective way to find deals. This can include postcards, letters, or even door hangers.
Driving for dollars: This involves driving around neighborhoods and identifying properties that may be vacant, run-down, or in foreclosure, and then reaching out to the owner to inquire about owner financing or lease options.
Agent or Broker: working with agents or brokers who are experienced in these types of deals can be a good way to find opportunities. These professionals may have access to exclusive inventory and may also have a network of other agents who also have such inventory.
It's worth noting that these methods may not be productive in all markets and you may need to experiment with several methods before you find a method that works best for your area and goal. You also have to do your due diligence, like screening the property, the property owner and the terms of the lease or owner financing to make sure that the deal is viable and beneficial for you.
Investor · Boulder, CO · Member since 2017 · 304 posts · 347 votes
3y
@Corey Graham hello:) Almost all my deals have been creative finance. I had tons of success with DM when I started 20 yrs ago. But fair warning: the market was a lot slower paced and it was a whole strategy. I targeted people who either were in foreclosure (it's public record) for sub to or even short sales. Or who were advertising both for sale and for rent for lease options. I use messaging and scripts based on NLP. I'm now using FB, craigslist, wholesalers, my network and may begin DM again if the market continues to slow where I'm at. Right now, it's come off of almost a decade of white hot to a more "normal" pace and inventory. I've also twice gotten an off market, seller financed deal by door knocking.