318: Rookie Reply: No Capital OR Credit? Get Deals Done with THIS Financing Tool

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 2 September 2023

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t have the capital OR credit to invest? Seller financing is a powerful tool that could allow you to score multiple real estate deals without ever going through a bank. The best part? You can create your own terms! You just need to put together an effective pitch that wins the seller over. Today, we’ll show you how! Welcome to another Rookie Reply! In addition to seller financing, Ashley and Tony cover several CRUCIAL real estate topics in this episode—from critical first steps to take before investing to closing costs—who pays for what? Does paying cash make a difference? Stick around to find out! Off the back of their new book, Real Estate Partnerships, they also tackle a couple of partnership-related questions—when it makes sense to get a partner and how to structure an agreement where both sides are compensated! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to invest in real estate without capital OR credit How to effectively pitch seller financing (and KEY terms to include!) Three critical first steps to take before buying real estate Buyer and seller responsibilities when it comes to closing costs Accounting for sweat equity when setting up a partnership How to structure a partnership agreement where both sides are fairly compensated And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Grab Your Copy of “Real Estate Partnerships” and use code “TONY or “ASHLEY” for a Discount The Definitive Guide to Using Seller Financing to Buy Real Estate How to Buy a Rental Property with NO Money OR Credit Follow Artina Marie on Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-318 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie episode 318.
0:05.5	We all love seller financing.
0:07.4	Makes things way easier most of the time than going to a bank into unconventional financing.
0:12.8	Say the house is worth $300,000.
0:15.3	Say I agree to buy her property and it's like a $2,000 payment.
0:18.4	Now she's only paying taxes on $24,000 a year versus the $300,000 per year that she
0:23.3	get if she sold the property.
0:25.2	My name is Ashley Care and I'm here with my co-host, Tony J. Robinson.
0:29.8	And welcome to the Real Estate Rookie podcast where every week, twice a week, we give you
0:33.7	the inspiration, motivation, and stories you need to hear to kickstart your investing
0:37.4	journey.
0:38.4	And today we are back with another Rookie reply, as always, where we're happy to answer
0:42.9	questions from the Rookie audience.
0:44.6	And if you want to get your question featured on the show, head over to biggerpockets.com,
0:48.5	slash reply, and we just might use your question for an episode.
0:52.5	So Ashley, I guess really quick, giving an update, what's going on in Ashley Care is a
0:57.2	world today.
0:58.6	For the first time ever, one of my real estate friends that I have met across the country,
1:04.6	I've met a lot of real estate people.
1:08.4	Someone is coming to visit me in Buffalo, New York.
1:11.6	Going all the way to Canada that come hang out with us for a couple of days, that's
1:15.8	a good is passport, you know?
	...

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