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Real Estate Investors Association of Greater Cincinnati

Author: Vena Jones-Cox (1 articles found) - Clear Search

"Wholesaling” Creative Deals

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Lordy, people, there are SO many ways to put together real estate deals. SURELY there’s one out there that you’ll like/understand/benefit from.

If you don’t like full-on wholesaling—maybe because ugly houses repel you, or some of the areas that work well aren’t neighborhoods in which you want to spend time, or you don’t like making super-low offers—then learn how to do creative deals, and flip those.
     
Creative financing techniques—buying properties using seller-held mortgages, contracts for deed, lease/options, and subject to the existing loan—are usually thought of as ways for you, the buyer, to control real estate for some period of time so that you can exercise some exit strategy that requires control.
     
For instance, you might buy a property subject to the existing loan so that you can renovate it and rent it for the long term. Or you might get a “split funds” seller mortgage for a year because you intend to renovate and resell the property within that year. Or you might control the property with a lease with the option to buy so that you can sell it with a lease with the option to buy (with, of course, a higher overall price, higher down payment, and higher monthly payment coming to you than the
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