39 min
Creative Deal Structures With Wendy Patton Flipping America
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- Entrepreneurship
If you want to make money on a flip, you must buy at a discount. Many sellers can’t afford or don’t want to accept a low cash offer for their home. When you understand the possibilities with creative deal structures, you’ll be able to present multiple options to sellers and greatly increase your chances of getting a deal done. Wendy Patton is joining us today. At the age of 21, Wendy started investing in real estate. Like most young adults she was single, broke, thinking “Corporate America” was her only future. She graduated from college, was hired for that corporate America “dream job”, but was $20,000 in debt. She found real estate investing and realized that Corporate America wasn’t the golden path to what she wanted. When Wendy began investing in real estate, she didn’t fully understand her financing options, so she started purchasing real estate investment properties on her credit cards. In her own words: “At that time I didn’t know of any better way to invest. I did not have the assistance or availability of coaches and instructors. I wish I knew then what I know now about investing in real estate and creative seller financing. By the time I was in my early twenties, I had more than $200,000 on my credit cards (for my real estate deals)! I then got married, had twins, got divorced and found myself to be a single mother, all within a short time span. Over the next few years I accumulated more properties while working full-time in the corporate world. I needed to make a living, and make it fast to pay off the credit card debt I had accumulated. I came to specialize in creative seller financing techniques like: Lease Options, Subject-Tos, Land Contracts and other seller financing. So why these techniques? Because like many of you, I didn’t have the money or the credit I needed to buy in a conventional way. Now, with the lending industry the way that it is, most real estate investors can’t buy properties without being creative. These techniques are crucial for today’s real estate investor.
If you want to make money on a flip, you must buy at a discount. Many sellers can’t afford or don’t want to accept a low cash offer for their home. When you understand the possibilities with creative deal structures, you’ll be able to present multiple options to sellers and greatly increase your chances of getting a deal done. Wendy Patton is joining us today. At the age of 21, Wendy started investing in real estate. Like most young adults she was single, broke, thinking “Corporate America” was her only future. She graduated from college, was hired for that corporate America “dream job”, but was $20,000 in debt. She found real estate investing and realized that Corporate America wasn’t the golden path to what she wanted. When Wendy began investing in real estate, she didn’t fully understand her financing options, so she started purchasing real estate investment properties on her credit cards. In her own words: “At that time I didn’t know of any better way to invest. I did not have the assistance or availability of coaches and instructors. I wish I knew then what I know now about investing in real estate and creative seller financing. By the time I was in my early twenties, I had more than $200,000 on my credit cards (for my real estate deals)! I then got married, had twins, got divorced and found myself to be a single mother, all within a short time span. Over the next few years I accumulated more properties while working full-time in the corporate world. I needed to make a living, and make it fast to pay off the credit card debt I had accumulated. I came to specialize in creative seller financing techniques like: Lease Options, Subject-Tos, Land Contracts and other seller financing. So why these techniques? Because like many of you, I didn’t have the money or the credit I needed to buy in a conventional way. Now, with the lending industry the way that it is, most real estate investors can’t buy properties without being creative. These techniques are crucial for today’s real estate investor.
39 min