In part one of this episode, Bob Zachmeier, creative financing expert, and I talked about how creative financing, second notes, and owner financing is changing how the buy and sell process works in the real estate industry. Bob explained the costs and compared the difference between selling a house traditionally and selling a house through creative financing.
In this, the second part of this 2 part series with Bob, he answers in detail the most common questions those unfamiliar with creative financing have.
- How does he find private investors who will understand his model?
- How does he screen buyers that can match the 10%-15% down and are guaranteed capable to make payments?
- How does he advertise his business?
- How and which areas does he find properties to sell?
- How does he convince the seller, buyer and lender?
- How does he make money as the second investor/ second note holder?
Creative financing is an investment. And much like every other investment, there are risks. However, in the models Bob created, there’s no losing end. Even with risks, the worst-case scenario CAN PAY MORE than the best-case scenario.
The market’s constantly changing. The creative financing model changes along with how the market shifts and new deals come along.
There is HUGE profits in creative financing and creating second notes but you need the right resources to be able to fully use this model. Whether you’re a blue-collar worker, white-collar or a retiree, creative financing can work for you as long as you have money to finance.
If you are interested in knowing more about the ins and outs of Bob’s creative financing model, this second part episode will give you the resources you need to get started
Listen and Learn:
- Bob shares how he screens buyers and finds private investors.
- I ask Bob how private investors make a profit.
- What kind of properties are we dealing with?
- Bob explains how he does zero advertising.
- We talk about how you can sell second notes to the first investor.
Mentioned in this episode:
- Bob’s Email Address: firstname.lastname@example.org
- Bob’s Website: www.notecarry.com
- Bob’s Book: Who Needs The Bank?
- Joe’s Website: www.realestateinvestingmastery.com
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!