Creative real estate investing is any non-traditional method of buying and selling real estate. Typically, a buyer will secure financing from a lending institution and pay for the full amount of the purchase price with a combination of the borrowed funds and his own funds (or his "down payment").
One way to buy a home is to pay cash. But the typical family is not in a position to do this, and thus must arrange to finance its home purchase. Most families can afford only a modest down payment and are forced to secure the remainder of the purchase price by mortgage from some lending institution. The larger the down payment, the smaller the total interest payment over the term of the mortgage. Buyers, however, should not use all of their savings for the down payment, thus depriving themselves of any reserve to fall back on if extraordinary expenses arise or income falls in the future.
Read more about Creative Real Estate Investing: Bird-Dogging, Seller Finance or "subject To", Options, Lease Option, Sandwich Lease Option, Short Sale or Preforeclosure, Wholesaling, Hard Money Lenders, Tax Liens, Paper/notes/mortgage Investing, Flipping, Land Trust
Famous quotes containing the words creative, real, estate and/or investing:
“What if all the forces of society were bent upon developing [poor] children? What if society’s business were making people instead of profits? How much of their creative beauty of spirit would remain unquenched through the years? How much of this responsiveness would follow them through life?”
—Mary Heaton Vorse (1874–1966)
“... But all the feelings that evoke in us the joy or the misfortune of a real person are only produced in us through the intermediary of an image of that joy or that misfortune; the ingeniousness of the first novelist was in understanding that, in the apparatus of our emotions, since the image is the only essential element, the simplification which consists of purely and simply suppressing the factual characters is a definitive improvement.”
—Marcel Proust (1871–1922)
“I ‘gin to be aweary of the sun,
And wish th’ estate o’ the world were now undone.”
—William Shakespeare (1564–1616)
“After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world.”
—Calvin Coolidge (1872–1933)