Recommended creative finance resources besides Pace Morby?

Question

Hi all,

I am digging into a lot of Pace Morby's content around creative financing and sub-to. However I am curious if anyone has recommendations for other creative finance resources and content besides Pace's? It would be good to get another perspective on this side of RE investing, or at least to hear someone else's take on it.

Thanks!

Shiela R. · Answer

@John D. there are some excellent resources mentioned.  I mean, @Wendy Patton  and Bill Bronchick?!  Since you are in NY, def check BB out.  He's licensed in CO (where I am) and NY.  Helped me structure my last big deal (search BP for "SFH bought for $10 sold for $800k").

Wanted to say that often times sub to is not no money down.  You'll have to bring people current on payments ($1500 x 4 =$6k + fees) and deferred maintenance (think a hoarder who hasn't cleaned since they moved in circa 1989, let alone checked systems and the roof $10k+). Plus you need to carry the property until it sells (or rents).  It's a great way to buy, rehab and flip, IMHO though.

I learned sandwich L/Os and successfully closed dozens of transactions solely as sandwich L/Os with the help of scripts based on NLP.  Now these are no money/very little money down deals. Granted, this was when I first started but not much has changed. I've watched a few of Pace's videos and visited his website.  For the record, he did not invent the concept of "sub to".  SMH.

From what I've seen, there is still a missing piece in what is out there: how to communicate effectively to have these sellers calling you and how to actually lock up these types of deals. It's not "Mr. Seller, would you lease option your house?" Pace alludes to some phrasing that I was taught.  I don't know if it is included in his paid content.

Jacob St. Martin · Answer

Hello John,

Investing in Real Estate with No or Low Money Down by Brandon Turner is an excellent resource. Also, if you are looking to employ some creative financing techniques I would highly recommend the book raising private capital by Matt Faircloth. I have found that the easiest type of creative financing for me has been bringing people on as cash partners for a certain equity/cash flow split. Raising Private Capital will help you find those people and convince them to do a deal with you (hopefully). Let me know if you have any other questions!

Account Closed · Answer

There is always Ron LeGrand, Bill Bronchick & Robert Allen

and this Gem of Advice

Using Subject To, to Get "Free" Properties

https://www.biggerpockets.com/forums/311/topics/1060320-using-subject-to-to-get-free-properties-a-quick-guideline

Wale Lawal · Answer

@John D.

One of the biggest obstacles real estate investors face is financing. Brandon Turner's 2020 book (in its second edition) covers multiple solutions, from the obvious to the lesser known, including FHA loans, home equity lines of credit (HELOCs), partnerships, private money, hard money, seller financing, lease options, wholesaling, and syndication. Of course, investors often use multiple types of financing, and the "Creative Combinations" chapter emphasizes that you can mix and match various approaches to fit your deal or property.Like Turner's other books, this one is easy to read and conversational. It includes real-life examples to provide inspiration and break up the educational content (a "bonus chapter" at the end of the book briefly highlights 12 more investor stories). If financing is holding you back from entering the real estate investing world, this book is worth a read, even if it just gets you thinking about creative solutions.

Good luck!

Wendy Patton · Answer

I have a great book on the topic -

John D. · Answer

Thanks Shiela! This is awesome info. Yes, I am learning that Pace is quite a prominent voice in the sub-to space, but not the creator of that strategy.

That is also really good insight regarding sub-to not necessarily being completely "no-money down". What I am really looking to do is use sub-to and seller financing to get into properties off market and then bring my own capital to improve the properties and list them for rent and keep them long term. So I am fine with having to put down some capital for bringing payments current, or cleaning it out and repairing/rehabbing.

I am also interested in having LO as an exit strategy that I can use (although I have no idea how to market a property as a LO to a potential renter/buyer).

What I am really hoping to do over the coming 7-10 days is to gather enough knowledge to be dangerous in terms of understanding creative financing options, and then try to engage the right agent or RE attorney to help me button up any creative contract that I need to write, to make sure I do not make an egregious mistake.

Thank you so much for your advice!

John D. · Answer

Thank you Mike! I will check out all of those guys and dive into this forum post.

Julian Colvard · Answer

What’s your goal?

chad Carson’s course in his website CoachCarson.com is the ultimate resource besides Pace Morbys coaching group.

Chad Carson has been on the BiggerPockets podcast three times, and also has a book that he wrote for BiggerPockets called “retiring early.”

please get back to me. We can probably help each other out to accomplish our goal. My goal right now is to buy my personal home using creative finance.  So far, I have a condo under contract to purchase up to. The second position lienholder has agreed to a payoff with me and has stopped foreclosure.

Wale Lawal · Answer

My pleasure, glad to share knowledge and my experience.

All the best!

Eliott Elias · Answer

We have a title company run by Alan Ceshker in Austin that hold seminars on creative finance

Recommended creative finance resources besides Pace Morby?

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