Interested in learning about Creative Financing Strategies

6 Replies

Hi BP Community

Does anyone know any excellent videos or books that explain how seller financing, lease options and other creative financing strategies work.

Thanks

Brickell

Hi @Brickell Quarles  

1. Read all of my posts for free

http://www.biggerpockets.com/users/REISkills

http://www.biggerpockets.com/blogs/3-reiskills-and...

2. Read anything by @John Jackson  @Bill Gulley  

3. Get a great attorney in NJ, try asking your REIA attorney

4. Get a great RMLO for Dodd Frank Issues

All free!

Medium banner reiskills 997   copyBrian Gibbons, REISkills | [email protected] | 818‑400‑3046 | http://MyREISkills.com

Brian

thank you so much for the references. I will take a look and get back to you on the coaching. I have a coach through Fortune Builders right now but have not discussed Creative Financing strategies. Give me some time to look over the information you suggested and let you know. I appreciate you time and response.

Brickell

@Brickell Quarles    I made the mistake in 2002 to connect with @Brian Gibbons   (back then there wasn't Skype or anything, so I spent $700 on a phone bill to call New Zealand...true story..)  in 2003 I started my company and within 6 month was doing real estate full time. 

I as well as Brian and other people here in BP coach/mentor people, and I think the money you spend for a SOLID coach is well worth it. 

But having been in the biz long enough and seeing what happens with the "big boys coaching"...well...it makes me want to stop coaching...

I've seen behind the curtain....$33k and you get 30 minutes on the phone 2 times a month.....???WTF????

And of course the coach you have is different each time....you can "choose" your coach each time you call for your 30 min. call. 

I've had "mentors/coaches" from the big boy shops call me with questions...because they don't know what they are doing.  It's pathetic.

You don't have a coach...you have a cubicle...a person in a cubicle actually...sitting in Utah. 

Don't try to go at this alone, reading books and looking at forums....although both are good...a GOOD mentor is worth the money.

Search around al the NJ REI groups. talk, but don't seem desperate. you'll find a good mentor.

Hmmmm?

I suggest you not learn creative financing from any guru program at least don't implement anything unless a finance attorney blesses it or perhaps, if it is completely discussed and passes my (our) sniff test, with Ken Rishel's or Dion DePaoli's. Finance is NOT real estate.

Need to be very careful about financing starting off, the feds can get involved and penalties can be $100,000 in fines and or 10 years in a federal prison, sounds like an incentive to get a good education to me and stay away from gurus. LOL

You really don't need to do any financing with L/Os, best not to. Lease options have been around for centuries so I don't really consider them as an area of creative financing.

The more creative side is how the strategy or system is presented, not really so much as to its structure. Good luck :)   

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Thank you all for your insights. As a newbie I see there is a lot to learn and consider.