Top 5 Things I learned since buying on Creative Finance

[Andrew McGuire]

Last year when my family purchased our new primary residence it was a struggle to go through the lending process and just barely were able to qualify. I thought this was a little crazy because yes I quit my W2 job just 10 months earlier but also had a 8 property rental portfolio so didn't think that it would be an issue to qualify for a new primary. Turns out the rental properties as well as no longer having a W2 were bigger problems that I initially thought. Anyways I'm glad it was difficult because that is when I decided to explore this rapidly growing strategy of acquiring real estate, Creative Finance Real Estate. 

I decided to give it a try and acquired a couple for myself and sold a handful for others. He's what I've learned. 

5) Seller Finance transactions are way simpler and cost efficient than buying/selling traditionally. 

4) Because of #1 anything sold on terms will sell at a higher selling price with many more interested buyers. 

3) There are way more buyers on the market looking for Real Estate than qualify for loans. Its been eye opening to see how many people that are out there that want to own Real Estate but for many reasons could not qualify. 

2) Seller finance Real Estate has many more ways and options to make money by owning Real Estate than conventional selling/buying. 

1) Price is not even top three of what is important to a buyer when buying on creative finance. When I speak to off market sellers in attempt to buy their home on creative terms, they also say things like sure, for $1 million. I couldn't restrain myself the first couple of times so I replied, okay I'll write it up. $1M, 1% interest for 80 years amortization. My payments will be $2000 for the next 80 Years, deal.