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:
“But this I know; the writer who possesses the creative gift owns something of which he is not always master—something that at times strangely wills and works for itself.... If the result be attractive, the World will praise you, who little deserve praise; if it be repulsive, the same World will blame you, who almost as little deserve blame.”
—Charlotte Brontë (1816–1855)
“A real man doesn’t have to run from his mother, and may even have to face the reality that no great deed is going to be great enough for him to ransom himself completely, and he may always be in his mother’s debt. If he understands that . . . he won’t have to feel guilty, and he won’t have to please her completely. He can go ahead and be nice to her and let her be part of his life.”
—Frank Pittman (20th century)
“Wilt thou have this Woman to thy wedded wife, to live together after God’s ordinance in the holy estate of Matrimony? Wilt thou love her, comfort her, honour, and keep her in sickness and in health; and, forsaking all other, keep thee only unto her, so long as ye both shall live?”
—Book Of Common Prayer, The. Solemnization of Matrimony, “Betrothal,” (1662)
“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)