So when we talk about creative real estate investing, what that really refers to is the many different “creative” methods and strategies that can be used to do real estate deals. In this video I talk about a few of them, and how they work.
Click the video below to watch now.
Hi, I’m Chimene Van Gundy, best selling author and mobile home millionaire, and in today’s video we’re going to talk about what is creative real estate investing. The first thing that you can do to be creative and your real estate investing is do the rent to own strategy. This means that you’re actually allowing them to pay for the option to buy your home later. That’s if they’ve been on time with their rents and they pay for the time that’s stated in their rental contract. The next one is sandwich lease options, which is my favorite because they’re so delicious. Sandwich lease options mean that you’re making money up front, money in the middle and money at the end. You can typically get anywhere from 15 to $25,000 of upfront money for a sandwich lease option. Then you actually can add another five or $600 onto the mortgage that you already have on the House and rented out to them for that price or in this case, lease it out to them for that price. So if your payment is $1,000, you would lease it to them for as 1600 then at the end and your end money comes through the fact that when they do exercise their right to purchase it, they’re purchasing it at the fair market value for that time, meaning that you make money at the beginning, the middle, and the end of your deal. That’s how we get the sandwich. The next strategy that you can use is owner financing and this is being the bank, just simply being the bank, meaning that you can finance somebody’s real real estate property for them or their rental property or whatever it is for that matter. The point is is that you get to be the bank and when you’re the bank, you’re in a better position because you’re not dealing with toilets, tenants, trash and termites, which are the forties of dealing with rentals. And finally for me, creative real estate investing just means finding ways in which to leverage your money, your network, your relationships, and your time so that you can get into the real estate game and help others actually fulfill that things that they want to do with their real estate deals. Creating a win win situation for all. And when you do that, as you know, everyone wins.
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