Why Choose Creative Financing?

July 26, 2024•2 min read

Scot Poirier specializes in creative financing and owner financing, which involves using someone else's debt or asset to make money for investors. He shares an example of a house he bought using owner financing and how he made money from it. He explains the process of having a conversation with the seller to understand their motivation and see if he can help them achieve their goals without using banks or credit.

Scot also discusses the benefits of owner financing, such as the ability to attract tenants who take better care of the property and the potential for cash flow and appreciation. In this conversation, He discusses the benefits of creative financing in real estate deals. He shares examples of how he has used creative financing to purchase properties with little to no money down and how it can be a win-win situation for both buyers and sellers.

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Scot emphasizes the importance of being creative and finding solutions to problems, as well as the need to ask good questions and listen to the needs of the other party. He also provides tips on finding off-market leads and navigating the paperwork involved in creative financing deals.

Takeaways

• Owner financing involves using creative financing techniques to make money for investors.

• Having a conversation with the seller is crucial to understanding their motivation and finding ways to help them achieve their goals.

• Owner financing allows for cash flow and potential appreciation of the property.

• Attracting tenants who take better care of the property is a benefit of owner financing. Creative financing allows for real estate deals with little to no money down.

• Being creative and finding solutions is key in real estate transactions.

• Asking good questions and listening to the needs of the other party is crucial.

• Finding off-market leads can be a valuable strategy in real estate.

• Navigating the paperwork involved in creative financing deals requires attention to detail and the involvement of an attorney.

Sound Bites

• We make our money on the initial call

• There are ways to protect against the due on sale clause

• Anything above the initial investment is cash flow

• You know, there's no way you can do stuff with no money down, you know, use other people's money.

• Being creative is really what matters at the end of the day.

• You might be able to get in the property you wouldn't otherwise be able to get.

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