Recommended Book On Creative Financing
I have been doing rehabs on the 75% LTV rule. Done well for the homes I have rehabbed. Now the inventory is dry..California is hot, low interest rates...fixers going for nearly retail, yada yada yada.....
I need to open my education level to the next step. I had a conversation years ago with a hot shot investor telling me he was doing what he does "all day long" and now drives sport cars of his choice. He was talking about giving sellers top dollar for their properties on a two year lease and then he woul turn around and get first time buyers locked into the same property with so much down and a higher payment a month. Can anyone give details on how this is done and can this be done on a down market/up market? Any good authors out there without so much ego fluff that just gets to the point without hype!
I suggest the following link for your research:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=763
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It sounds like a Conti and Finkel book. They have a few books out, and they are big into lease option. They preach 5-7% in option money and put the option price at whatever the average rate of appreciation is. They are good reads if you want to lease option, but their mentor program is quite pricey.
A few of the books I have are:
-Making big money investing in real estate.
-How to create multiple streams of income.
-Making big money investing in foreclosures.
Hope this helps,
John
Thanks John
Thanks Tex