Creative Real Estate Financing
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Updated over 7 years ago on . Most recent reply
![Lincoln Selk's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/838782/1621504249-avatar-lincolns.jpg?twic=v1/output=image/crop=200x200@0x0/cover=128x128&v=2)
How can I not miss this deal?? (creative financing)
I have a great lead on a rental property that I can purchase from a friend. However, I purchased a property in August and don't have the money to move on a property without some creativity. I would love to be able to get this property (I'll spare you all the numbers but it's a great investment).
How can I get creative/scrappy and find a way to structure a deal on this property? My father-in-law is a potential partner. It seems like there should be a way to structure a deal but I haven't been able to come up with anything.
Any suggestions would be greatly appreciated!
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- Rental Property Investor
- East Wenatchee, WA
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I have a $240k single-fam rental and am selling as we speak. It breaks-even, maybe, and the market is good on the sale side. The smart money in the fancier single-family space right now is selling in my area.
Most of my single-fam rentals are 1%ers at least. Unless this thing rents out for $2400 a month or more, spend that money on a plex for some cash-flow.
Jack and Jill are just tough to get creative with. They fear what they don't understand and need the money and loan pay-off to get their next place. Don't fall in love with a property @Lincoln Selk.