How Are You Getting Cash for Your Purchases?

[Sam Fulkerson]

So, with interest rates on a roller coaster and the economy doing its own thing, I'm curious how we're all wrangling cash for our real estate opportunities. Hard money, creative financing, or traditional financing?

[Rick Pozos]

Hey @Sam Fulkerson nothing has changed. You do whatever you can to get that super duper deal funded and closed. 

I always ask if the seller if they are ok with me taking over their payments and I can get them some cash. When that does not work, I ask them if we can do a wrap around loan so that the seller is basically owner financing the property to me. When they say no to that, I have to go pretty low on the offer because I have to get a hard money or private money loan and its going to be about 10% to 12%. 

You have to talk with the seller to see what their situation is and what will work for them. THAT is how you base your offer, Condition AND Financing.