Creative financing is a term used widely amongst real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used. The goal of creative financing is generally to purchase, or finance a property, with the buyer/investor using as little of his own money as possible, otherwise known as leveraging, OPM (Other People's Money). Using these techniques an investor may be able to purchase multiple properties using little, or none, of his "own money".
Famous quotes containing the word creative:
“Imagination could hardly do without metaphor, for imagination is, literally, the moving around in one’s mind of images, and such images tend commonly to be metaphoric. Creative minds, as we know, are rich in images and metaphors, and this is true in science and art alike. The difference between scientist and artist has little to do with the ways of the creative imagination; everything to do with the manner of demonstration and verification of what has been seen or imagined.”
—Robert A. Nisbet (b. 1913)