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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
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25 January 2025 | 1 reply
Depending on how long it takes you to save up the amount, you might want to also allow for inflation on that amount for your continued savings.[2] Read Rich Dad poor dad.[3] Think about getting a second job - possibly a temporary job - save a 100% of the money.Just my 2 cents.
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23 January 2025 | 2 replies
I actually found something of an answer this morning.
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12 January 2025 | 2 replies
Listening carefully and asking open-ended questions like “What’s most important to you in this deal?”
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31 January 2025 | 42 replies
@Tiamo Wright is getting g this over the finish line.
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23 January 2025 | 24 replies
Your reading of that section isn't exactly what I would take away.
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21 January 2025 | 5 replies
How'd you acquire this property are selling?
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27 January 2025 | 11 replies
He even chatted with me through this forum (Bigger Pockets) and was very encouraging that you can even do it just with free stuff out there.
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22 January 2025 | 10 replies
Read Averys book and past posts in this forum.