Creative Financing & Seller Financing?

Question

Hello everyone,

I have a quick question for those who have experience with creative finance and seller finance in the same deals. Would any of you be willing to connect with me, so I could ask you a few questions and perhaps take you to lunch? Your insights would be greatly appreciated.

Thank you!

Oladimeji Sonibare · Answer

Hey, @Sam Chicquen! I'm also well-versed in creative finance. We just got a deal under contract subject to the existing financing. I've got to say, learning creative financing has been super empowering and I'm happy to pass it on.

Happy to connect with you as well, @Eliott Elias! We're always looking for active wholesalers and investors to work with.

Eliott Elias · Answer

What are your questions? I’ve done many creative finance deals.

Oladimeji Sonibare · Answer

My pleasure, man. The same Facebook group will help. Make friends and ask people to sit in on their deals. People in the group have regular calls with sellers that you could potentially listen in on. There are also Zoom calls where people practice their underwriting live. You'll see the value in it when you get there, I promise.

Oladimeji Sonibare · Answer

Absolutely, man. There are tons of resources. BiggerPockets just released a book written by a man named Pace Morby. He has a free YouTube channel and a Facebook group as well. Just start with taking the content in and then team up with someone actively doing these deals. Spend the first few deals just listening and asking questions. You’ll pick it up in no time.

Stanley Yeldell · Answer

Creative & Seller Financing Overview

Seller financing allows the seller to act as the lender, enabling you to purchase without traditional bank involvement. Terms such as interest rates and payment schedules are typically negotiable.

Combining creative financing with seller financing can include strategies like:

• Subject-to and Seller Financing: Taking over the seller's mortgage and financing the equity portion through the seller.
• Lease Option: Renting with an option to buy while negotiating seller financing for part of the purchase.
• Wraparound Mortgage: Keeping the seller's existing loan while they finance a new loan that includes the balance.

To proceed, consider connecting with experienced investors, understanding local legal implications, and attending networking events to gather insights.

Stephania Tucker · Answer

Creative financing can help sellers make more money, solve pain points, gets them the money they need, and help them avoid a high tax bill.

Olivia Leija · Answer

Yes Pace Morby is great on educating about creative deal structuring. I was at host con and he was one of the speakers. He was so inspiring. I am taking action everyday and hope to close on a deal soon.

Sam Chicquen · Answer

Hey Olivia, it's been good! I'm at a stage where I really just want to get involved and start buying properties. Have you heard of Pace Morby? If not, you should look him up on YT. He also just released a book called Wealth without cash.

Olivia Leija · Answer

Hello Sam,

I am new to creative finance as well  I have been listening to the Creative Finance Playbook Podcast with Joe and Jen.  How has it been going so far?

Creative Financing & Seller Financing?

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