In today's show we're going to dive into how to buy an investment property without ever going to a bank through the use of creative financing. My guest Brad Smotherman, is an expert on that topic.
One of the things that most concerns us as real estate investors today has to do with financing. Specifically, how our ability to finance property through traditional lending institutions will be affected by COVID-19 over the next 12 to 24 months or longer. We all want to know, “Will I be able to borrow money to buy property?
“Let me ask you this. What if you never had to rely on banks again to buy property?
Brad owns and manages a seven-figure flipping business. He's invested in over 15 States, has houses from Michigan to Georgia, and has completed over 400 transactions today. He's also the host of the top 100 business podcast, Investor Ceator, where he teaches new and seasoned investors, how to take their house flipping business to multiple or six or seven figures without sacrificing freedom.
- How Brad got started at 17 years old by getting his real estate license and worked while he went to college
- Years later, it only took him just over a month to figure out he didn’t want to an accountant
- The path to figuring out he wasn’t good at fix and flip, and he really didn’t want to wholesale
- Buying property “subject to” then selling it with owner financing (no banks needed)
- What his first deal looked like and how much cash he put in his pocket along with years of passive income from that first deal
- The impact the real estate market crash had on his business in 2008
- How he has managed to never go to a bank for money
- Why this strategy will work for anyone in any market
- How you navigate difficult markets like we are in today
- Why it’s still a good time to start a real estate investing business
- Looking back, what he wishes he had done differently
- Final advice for investors just getting started.
Here's Your Video – How to Buy Investment Property without Ever Going to a Bank with Brad Smotherman
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Brad Smotherman is a real estate investor and mentor who owns and manages a 7-figure per year flipping business. Brad has invested in over 15 states, has houses from Michigan to Georgia, and has completed over 400 transactions to date. He is also the host of the top 100 business podcast Investor Creator, where he teaches new and seasoned real estate investors how to take their house flipping business to multiple 6 or 7 figure income without sacrificing freedom.
Be sure to check out Brad’s website here: Brad Smotherman, and his podcast, Investor Creator
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This is a very insightful interview. Thanks for sharing how to invest without going to the bank. I am going to research more on creative finances.