All Forum Posts by: Cierra Seay

Just wondering if any investors have used creative financing options for their current personal residence or do you go the traditional route and just get a mortgage ? Specifically land contracts, lease options, or owner financing. 

Stephen Dominick I work for a small broker who's an investor himself so he does not mind me going after this niche. As an agent I primarily work with investors on the buying side because my goal is to be a full time investor. It's also been great for me networking because I have access to MLS I've been able to secure a mentor who usually charges but will help me along the way for free as long as I help him with comps and things like that. IMO having a license can't hurt I can look at houses whenever I want, I network with other realtors who know I invest and have clients that invest and I get a heads up on properties before they hit the market and in some cases they don't make it to the market if I have a client who wants to buy it. What you're looking to learn you won't learn from a traditional big name company but personally having a license will not hurt you as an investor.

this is very interesting @Joe Villeneuve could you use the investors POF ?

@Kyle Critchnau I would definitely still call. I would just say I wanted to thank you for responding to my flyer and then ask if he knows anyone else that may be interested in getting rid of a property just like you stated. 

@Ryan Dossey I believe you will lose your homestead exemption if you put in the LLC also if you're financing you may want to check on the rules for due on sale clause if you switch it after it's purchased. I thought about doing it for my personal residence but I ended up leaving it separate.

@Willie Banksit may not necessarily be the agent it may be the broker or the company they're with. An agent can't go around what they're company will not allow.

@Bill Morris  here in Michigan the agreement is supposed to be signed before you reveal confidential information but I've never seen it with a date that long. Usually they are on a deal by deal basis. I have one investor who I do multiple deals with but I just use the same agreement for every offer we submit.

@Keith Zabak Me and my husband are trying to figure out the same thing for our home. We didn't buy a HUD but we bought a foreclosure back in 2010. The house was fairly updated but we made some small improvements as well. We are looking to upgrade next summer to a bigger home. I would say if you're in a higher end area and you could get great cash flow then think about renting for a few years to build more equity. If you rent you would definitely want to tenant screen as best as you can because of the work you've put into the home.

@Scott Trench  Wealth accumulation and financial independence to me means spending more time with my kids, being able to take a vacation when I want to and not when some company approves my vacation time, and being able to buy what I want when I want. I decided to come into real estate both as an agent and investor because my day job was not something I was interested in doing for the rest of my life. In fact I've never had a job that I was interested in doing for the rest of my life until I got into real estate.

I strive for financial independence because to me that's the ultimate American dream. For me real estate as a profession is the only thing I'm truly passionate about and I know it's the best way for me to achieve financial freedom. I've never been fond of the corporate world and I've had some pretty decent jobs in that sector but I've always wanted to work for myself and create my own destiny. Thankfully I'm doing it now.

@Bao Nguyen  Just curious if you found a property you like you would then allow the listing agent to represent you and the seller ?