Who Needs Banks To Buy Real Estate?
As Buyers Struggle in Today's Economic Climate With Housing Values and Credit Issues, a Familiar Voice Comforts Them With Historically Proven Solutions to Purchase Real Estate With No Down Payment
Chicago, IL (PRWEB) February 17, 2009 -- Tightened lending standards? "No problem!" declares Carleton Sheets, real estate investing expert and author of the best-selling No Down Payment® real estate program. Carleton has discussed the benefits of purchasing real estate using creative financing techniques since the early 1980s … benefits that are especially relevant in today's credit-challenged market.
"Many people believe that you have to have good credit to purchase real estate," Carleton points out, "and it's just not true! There are many, many ways to purchase a property without going through the stringent approval process from a traditional lender. Creative financing is the solution!"
Creative financing refers to purchasing an asset (most often real estate, but it could be anything … a car, a business, or even a piece of equipment) using unconventional real estate investing financing techniques. That is, the buyer and seller structure and agree on terms to repay a debt and transfer ownership of an asset that normally would not have been achievable through other means.
Using creative financing techniques to purchase real estate can even help overcome the national credit crisis by:
| | - Reducing the number of foreclosures on the market.
- Reducing the number of abandoned properties blighting neighborhoods.
- Giving the buyer an opportunity to rebuild his or her credit while working towards homeownership.
- Providing short-term price stabilization.
|
Owner financing, lease options, and land contracts are just a few of the many creative financing techniques that can create a win-win situation for both buyers and sellers. And these techniques can be applied to residential and commercial properties.
Industry insiders agree that creative financing is THE solution for 2009 … but using creative techniques is not a new solution. Creative financing techniques have been around for years. Although used more frequently in large commercial property transactions, these techniques are applicable to purchasing residential properties as well and are especially valuable during economic downturns. It has been a profitable way to leverage real estate throughout history, and some of the most notable real estate professionals have used these techniques to build their fortunes including Sam Zell, William Zeckendorf, Donald Trump, and, of course, Carleton Sheets.
Is there risk involved in creative financing? As in everything, yes! But a well-informed investor knows these risks and how to protect both the seller--and the buyer--in the transaction.
For more information on creative financing techniques, visit www.CarletonSheets.com.
About Carleton Sheets:
Carleton Sheets has over 35 years of investing experience and is well-known for having the longest-running television program of its kind spanning over 25 years. His students have used the principals in his No Down Payment program to amass millions in real estate.
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