Creative thinking can also mean the realization that there is no particular virtue in having things done the same way all the time. Creative real estate does not mean some unethical or illegal way of acquiring property. It simply means doing it in a way that defies conformity. It's taking the road less traveled which is now covered with pebble stones but soon will be paved for so many people on their way to homeownership.[googmonify]4494413162:right:250:250[/googmonify]
Banks and Mortgage Lenders are not liquid so they deny more loans than they fund. Review appraisals are the norm as are cutting values and conditioning for higher down payments. From one extreme to another - from NINJA loans that required no income, no job, no assets, just fog the mirror loans to hard to qualify even if you're qualified loans!
The fact is that banks playing it very conservative because they want to be absolutely sure they can sell off their loans in the Secondary Market. Otherwise they can be the next casualty in the mortgage meltdown.
In this environment of crisis exists the seed of opportunity, Owner Financing and "Subject To". It behooves all of you to learn both techniques as quickly as possible. Knowing how to probe by asking the right questions you can structure your purchase with little cash or credit requirements while providing a win-win scenario, you can literally acquire as much real estate as you wish for many years to come. I personally have purchased over 50 properties using these methods as well as having been involved in hundreds more for my clients over the last 12 years. They are real. They are legal and they work like a charm. You really can get rich.
One component of creative thinking is your ability to ask "what if" questions. "What if" questions help you tap into the universal knowledge source to come up with solutions to every challenge you face. Dormant forces will come alive and you'll find yourself in a world of possibilities hereto unknown to you. You begin to defy conformity and break the boundaries of limitations to achieve and succeed at much higher levels. Here are some examples of "what if" thinking process:
- What if I could buy this property with nothing down
- What if the seller would accept my low offer
- What if the seller is very motivated to sell in 30 days
- What if the seller is willing to carry back 15% or more of the purchase price
- What if the seller would pay all my closing costs
- What if the seller would let me buy the property subject to his existing mortgage
- What if I bought 20 properties in the next 3 years and achieved financial freedom in the next up swing
I highly encourage you to engage your mind by asking good questions that require creative answers. Next, come to us for training and help. Finally, act on your ideas and let the universe take care of rest. You follow my advice here and I guarantee your success in real estate.