Creative Investing Ideas…
Years ago when you thought about real estate investing two styles of investing came to mind. Remodeling old outdated homes and flipping them for profit and investing in rental properties for residual income. Fast forward 10 years and now there are numerous new and creative ways for you to either begin your investing career or expand an already successful investment business.
Here are 3 creative real estate investing strategies (in no particular order of importance)
House Hacking
House hacking is an investment strategy that allows the investors to live in their own property rent free. For this type of investment, you’ll need to find a multi-family property consisting of two or more units. Duplexes, tri-plexes, quad-plexes, condos and apartments are all examples of multifamily properties that you can house hack. The goal with house hacking is to acquire the property at a costs low enough so that the income from the additional unit(s) cover the mortgage payment for the entire property. When this is done property, you as the owner can live in one of the units rent free.
Room for Rent
The main goal for any investor is cash flow. Cash flow is the driving force for every investment deal. If you don’t have any capital to go out and buy an income producing rental property there are other options. One of those options is another creative strategy called “room for rent”. Some new investors start off by renting a room in the house they already own. This allows them to create an additional stream of income and that new income can be put toward new investment opportunities.
Seller Financing
When a person hears the words real estate investing, they often think about banks, loans, appraisals and good credit. The truth is most investors don’t start out with purchasing a property with a traditional bank loan. They start out with a creative investment strategy that fits their current personal or financial situation. One good way to bypass the need for bank approvals is seller financing deals. These deals are a little harder to find, but they are out there. Seller financing means that the seller (property owner) let’s you make payments to them directly for the purchase of their property. There are numerous benefits to this type of arrangement. Since you are dealing directly with the decision maker, you can create terms and conditions that you both agree with for the purchase. One thing to make sure of with seller financing is that the seller owns the property outright and there are no outstanding loans or mortgages on the property.
Ligon Brothers Buy Houses for Cash | Sell Today 