Findit-Fixit-Saleit.com Creative Real Estate Financing
Creative real estate financing is a technique in which the buyer uses funds from a private money lender. The funds are used to pay for the asking price that the owner has set, do the repairs that are needed in order to bring the house up to the after repair value that was set by averaging the price of similar homes and put cash in the buyers pocket after all expenses are paid.
There are other ways in which the buyer can you creative financing techniques to purchase a property. He can use a technique called birddogging in which you locate a property for your buyer and the buyer pays you a finder's fee of $500 to $1000 per property. It is a great way to earn some money and be able to learn more about the business of real estate investing.
Once you have mastered the bird dog technique you might want to try wholesaling a property and assigning the contract that you made with the seller. Wholesaling and assigning contracts lets you negotiate with the property owner and establish a reasonable offer to the seller. You also will be able sell the property to the buyer at a wholesale price so that he can have some instant equity in the property, be able to repair the property and then sell to someone for a retail price.