With over 40 years of experience in buying and selling houses, Eddie Speed is definitely the expert on how to find and make deals no matter what shape the market is in. As the wholesaling market tightens up, Eddie’s come up with some creative financing deals that help him close more of his leads because he’s giving the sellers the price they want on terms that benefit him.
Inside every seller’s head is a fixed price that they are set on, and it’s really all they care about. If you can get them to that price point, they’ll be willing to work with you on financing. Agreeing to the seller’s terms may seem like you’re overpaying for that property, but it’s how you’re overpaying that matters. You can inverse the property with tomorrow’s dollars but at today’s prices, and again, it just comes down to how you figure out the financing.
Over 4.5 million borrowers were denied a mortgage last year, but not because they have poor credit, no credit, or bad credit. There are a lot of great buyers in this pool of people; self- employed people, anyone paid by bonus or commission, or even people here in the U.S legally, but without citizenship. Eddie walks us through a couple of his recent deals to show us a few different ways to finance these deals so that you can start getting your creative juices flowing about how you can make a deal work for anyone who just needs a little help with financing.
If you’re looking for quality buyers for bread-and-butter middle-income homes, then follow the link in the show notes to Eddie’s free e-book that shows you:
- Where you can find your private money
- How you structure a deal
- What a reasonable offer or deal looks like
- And real case studies
Eddie’s vast experience in the real estate market shows that he understands how to make a profit, at a time when other wholesalers might be throwing their leads away because they’re unwilling to work with a seller. Take a page from Eddie’s book, and start finding ways to make the financing work to reach your old leads!
Watch and Learn:
Listen and learn:
- The seller-finance industry helps people who aren’t bankable still afford to buy a house.
- Eddie Speed shares how he niches down to find sellers who are open to creative financing.
- Structuring financing deals is about finding a win-win-win for everyone involved, and Eddie’s 40 years of experience means he knows how to make that happen within full compliance of Dodd-Frank.
Mentioned in this episode:
- Joe’s Book: REI Secrets
- Get Joe’s other book “Wholesaling Lease Options”: WLO Book
- Eddie’s e-book for you: Note School Training
- Eddie Speed’s website: EddieSpeed.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!