Investing In Real Estate- Additional Creative Financing Strategies

Off-market properties can be attractive because there are no fees from real estate agencies. Finding off-market properties takes time, but you might be able to find owners who are interested in seller financing to get rid of their property right away.

Wholesaling and flipping are great strategies to use with off-market properties if you aren’t interested in holding properties.

Becoming A Real Estate Agent
As a real estate agent, you will get to keep the commissions on the properties you buy besides having access to great deals. Using creative financing to purchase real estate means you will have to learn as much as possible about real estate.

You might as well apply for a license once you meet your state’s requirements, which usually include passing an exam. You could, for instance, work as a real estate agent on a part-time basis and use this additional income to invest in real estate.

Going Through a Turnkey Service
Turnkey services are a good option if you would like to invest in an out-of-state property. The expertise and network of a turnkey service are an advantage if you are just getting started. Most turnkey services will let you invest in a property as long as you can make a 5% down payment.
However, most turnkey services offer fairly high-interest rates and fees.

Partnering With Another Investor
Partnering with another investor will give you access to more capital, especially if you are just getting started. It is important to choose someone who is trustworthy and who has goals similar to yours.

Get everything in writing if you decide to invest in a property with someone else. You need to agree on everything with the other person and get a legally binding contract that details what you and your partner own and what your responsibilities are. 

Put together a list of what you are bringing to the table to find the right partner. Assess how much you can invest and ask yourself what your strengths are. For instance, you could bring experience or negotiating skills to the table. You could bring something to the partnership by handling repairs, taking care of the paperwork, or being in charge of finding the ideal property.

“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in  real estate.”
- Andrew Carnegie

 

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