Best place to learn creative financing techniques?

Question

Hello all, I am primarily a real estate wholesaler who have done a few deals so far. Although my goals were to initially fund deals for fellow investors in the Oregon and Florida markets, I am now finding that it would be beneficial for myself to get a few properties for my portfolio since I am already sourcing them at discounted prices. I am finding that there is something that is currently not present in my tool belt and that is creative financing. eg: sub 2 or Seller financing as well as any others that are out there. Having these strategies will allow me to take not only my business but my own portfolio which I wish to begin this year to the next level. My only issue is, I just do not know where to learn how to set it up. I'm very cautious of paying for a "Course" that will only show me information that I already know or can easily be found, although I am always more than willing to invest in myself. I have pieced together information from YouTube and the internet but it is just not sticking to me. I would also consider mentorship but I just don't know anyone in my personal circle who has the experience to help me out. Is there anywhere you guys would recommend that I can learn these different methods of investing?

Von Dixon · Answer

Hi Leslie, I too have been searching far and wide for more info about creative financing. What I have found most helpful is Pace Morby’s YouTube channel and Facebook group. Jorie Aulston is really good too. In their videos and interviews, they really break down the process in a way that you can understand. If you haven’t already, you should check them out. You will not be disappointed.

Farrukh Amini · Answer

If you already have the basics, then the best way to learn would be to JV with someone who’s already doing creative deals. I’m open to JV partnership as I do creative deals in most states. Or get in touch with someone in your own network that has experience in creative deals to JV - Bring them a deal and let them show you how to structure, walk you through the entire process, and share their documents with you.

Derek Dombeck · Answer

My favorite source for all things in creative real estate is cashflowdepot.com

This is a paid site,  but it is cheap. Many of the educators on there are personal friends of mine and they have taught me much of what I know over the years. I'm also happy to help if you want to reach out directly.

Farrukh Amini · Answer

@Jeff Rappaport has a great podcast on creative financing. Start there. Podcast is called The Creative Financing Podcast

Leslie Thompson · Answer

@Andrew Powers that sounds like a great strategy. Since posting I actually started to do something similar to what you recommended. I think the thing that just gets me caught up is that you can do so much with it. It’s unlike flipping where there is just one strict formula to stick by. That is also the great part about creative financing! Thank you so much, after dedicating a few hours to it yesterday i definitely have a better understanding than I did before.

Leslie Thompson · Answer

@Steve Felt I will look into this strategy. I heard a-lot about it but never really considered it since at first my goal was just to wholesale. Thank you for the recommendation, I really appreciate it.

Andrew Powers · Answer

A really simple and free way (takes some time): I learned through the forums here and the BP podcast about methods of creative financing. Each time I heard something new I wrote it down and investigated further. I created my own system. Now I use it as a playbook when an opportunity comes up. Unless you are a master of creative finance, it's extremely hard to think through all the ways of financing a deal, especially when you get in the weeds of an opportunity. Having a list (system) ensures you choose the right method instead of letting a deal slip by!

Steve Felt · Answer

Hi Leslie, I like the BRRRR strategy especially for newbies.

Dennis Wayne · Answer

I don’t know if I could aim you at really anybody today that shows how to do this , maybe grant kemp or mitch Stephen . Kris haskin .. find some cds of the older legends like Jimmy Napier

Leslie Thompson · Answer

@Farrukh Madaminov great. I will check them out. I will connect with you to talk about a JV opportunity.

Best place to learn creative financing techniques?

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