Guidance on creative financing

[Xavier Gonzalez Jr]

I am new member and I am looking for some opinions & guidance. I am looking to purchase my second investment property either using hard money or conventional or creative financing. I am in San Antonio Texas and my first investment property was my place of residence and we decided to move and rent it out back in 2002; no longer have a mortgage on it, so I am trying to decide how to fund my next investment property. I was considering to refinance the investment property with cash out and use the cash to requisition my second investment property or use my 401k since I am now 59 1/2 and won't be penalize if I take a portion of the cash out. I would appreciate your thoughts or opinions. On how I can obtain a second mortgage using creative financing. Thanks !

[Stanley Parsley]

Creative financing is just that-creative

to me that is acquiring a property without any conventional means

depending on the property make up and the seller is how to get creative

there are types of loans you can acquire or transfer ownership on

there are sellers that will sell with a balloon in a few years

there are sellers that will sell with little or no money down

these are the properties the professionals do not know about or have never done a deal on

you have to get out and look for this type of property

you will not find them on the MLS or the internet

hope this helps

enjoy