Creative Real Estate Deals

[Abigail King]

Hi everybody! What is everyone's favorite form of creative financing (seller finance, subto, etc..) ? Would love to hear how you got the deal going and how it ended up closing!! :) 

[Tom S.]

@Abigail King  I started with a seller finance, $80k, 10% down ($8K) + $1k in closing costs.

Put about $40k in rehab in it.  Mostly on trade accounts with local businesses for the materials, some business credit cards, some of the contractors were OK with waiting 30 days for payment.  So minimal impact to credit during the rehab process.

It appraised for $173k after rehab, refinanced and paid everyone off including the seller, and walked with cash to do my next deal :)