Creative Financing for a New Investor?

[Mark Jones]

Hello everyone, 

My name is Mark and I am a new real estate investor. I am currently the owner of a single family home which I am "house hacking," in, i.e. Renting out rooms. 

I have three jobs(one full time and two part time), a 735 credit score and a low DTI ratio. My issue and concern is how to finance deals. I live in a city outside of LA that has a lot of distressed properties and properties that would likely cash flow but I want to figure out how to finance the largest amount of cash flowing properties/units in the shortest amount of time.

I have heard of seller financing and recently read the definitive guide as written by Brandon Turner, and I have heard of private lenders and hard money lenders but I don't know how to use them to get cash flowing properties. Any suggestions? It would take forever to acquire enough properties to provide me with enough passive income so that I can have my passive income > my living expenses if I saved 20% down payment money every time I wanted to buy a property. There has to be a more effective and efficient way. Any suggestions? 

Right now my strategy finding a property for seller financing is to target an area, get a list of realtors on my team and have them identify properties that are older where sellers may own them free and clear and suggest seller financing to the sellers. Is that good? Should I analyze the cash flow of the property before I suggest seller financing? 

Thanks in advance, 

Awaiting your earliest reply,

Mark 

[Richard Ayvazyan]

Mark,

This is exactly what we are working on at the moment. An innovative and creative way for flippers/real estate investors like yourself to obtain more properties without going to the big banks or the pricey hard money lenders.  We also understand that a lot of people have the same pain point you do when trying to purchase an investment property.

What if there was a platform where you can connect with:

1. Home sellers that are willing to allow you to fix their properties with your own funds for a certain percentage of the selling price.  Seller's that don't have the money nor the time to do it themselves.

2. Flippers connecting with other Flippers to fund deals themselves.  Simply, looking for others just like you that have a certain capital they can invest but don't have all the funds that is required. 

Let me know if this interests you...

Thanks,