794: Buying Houses with $100 Down and Creative Finance Secrets Most Don't Know

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 20 July 2023

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Creative finance is a home-buying hack that most people don’t know about. If you know what it is and how to use it, you can pick up properties for only a hundred dollars, build your rental portfolio faster than ever, and reach financial freedom in mere years. And in 2023, when the housing market is still hot, and home prices have barely cooled off, creative finance could be the solution to no cash flow and overpriced deals. But before you creatively finance your next rental property, you’ll need to know which strategy to use and when to use it. Jenn and Joe Delle Fave used creative finance to move from snowy Upstate New York to sunny Florida after escaping soul-crushing work. Jenn, a former teacher, loved her career, and the time she spent with her kids. But Joe was stuck at the car dealership, working late into the night, sacrificing family time to make more money. He knew he needed a way out but didn’t want to give up the financial security of a W2. Everything changed when he had the “light bulb” moment to try creative finance. Now, Jenn and Joe have run a full-time investing business, picking up pristine properties using strategies like seller financing, subject to, or wrap mortgages. They’ve acquired properties for very little down in some of the most competitive neighborhoods in the country, growing wealth WITH the time freedom they desired. Jenn and Joe give invaluable advice on which strategies work for which seller, the easiest way to get leads sent to you, and how you build wealth with real estate faster. In This Episode We Cover: The EASIEST way to get dozens of off-market properties sent to you EVERY DAY The best creative financing strategies and when to use each Wrap mortgages explained and taking advantage of someone else’s low mortgage rate Time freedom and the “golden handcuffs” that stop you from accomplishing your dreams The one thing you should ask EVERY seller before you buy a property Investing with a spouse and the benefits of building a business together And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Hear Our Recent Episode with Creative Finance Master, Pace Morby What Is Creative Financing And How To Use It In Real Estate Connect with Jenn & Joe: Jenn's BiggerPockets Profile Jenn Instagram Joe Instagram Jenn & Joe's Facebook Group Jenn & Joe's YouTube Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-794 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

Click on a timestamp to play from that location

0:00.0	This is The Bigger Pockets Podcast.
0:01.9	Show 7, 94.
0:04.4	We were living in New York, I was dating her for two weeks and I said,
0:07.2	hey, I'm going to go visit my grandparents of Florida.
0:09.1	Do you want to come? I'll pay for the whole trip.
0:10.7	And she was like, you're crazy. I'm not here for two weeks, but sure.
0:14.7	So I take her to Florida and our dream was to eventually move there.
0:18.2	But we thought, you know, when you're 60 and 70,
0:20.8	well, we were tired, we could finally move there.
0:22.7	And so we knew we wanted to build an income to support that.
0:25.2	So once we kind of stumbled upon this way of how to buy
0:28.4	these gorgeous houses and beautiful neighborhoods with, you know,
0:31.6	a hundred bucks down, that's what it was like.
0:34.8	Wow, what's going on everyone?
0:36.1	This is David Green, your host of The Bigger Pockets Real Estate Podcast.
0:39.7	Here today on location in Maui Hawaii.
0:43.7	For once, I'm the one traveling and Rob is not he staying at home.
0:47.9	He's been traveling a whole lot before this.
0:49.6	So Rob, how does it feel to be in the comfort of your cockpit
0:53.1	in the studio ready to launch another fire episode?
0:56.4	Listen, it feels great, but I would rather be in Hawaii.
0:59.6	Let's be very honest.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.