CREPN #69 - Creative Financing with Adam Cohen

A conforming real estate deal has a conforming property, and a conforming buyer.  A real estate deal with a hurdle or two, is non conforming.  These non conforming deals need creative financing to get the deal done. Adam Cohen, founder of Westone International, always sees the opportunity where others do not.  He thinks outside of the box.  It's what he’s best at.  When it comes to non conforming deals, creative financing is the answer. What is a non conforming deal that needs creative financing?    Properties that have been on the market for too long or have high vacancies, deferred maintenance or management that doesn’t care.  Sellers that are tired of owning and want out, or a lender that is ready to let go to cut their losses are all examples of what properties that need creative financing look like.   How does Creative Financing work? Hard money rewards those that can get the needed work done fast.  It will crush those who can't figure out how to get the work done.  Hard money lenders charge more than banks, and mostly limit the length of the loan to less than twenty-four months.  The additional cost must be considered when creating budgets and profit projections.   Best Advice to be successful: Do a proper analysis Know your marginsItemize all your costsMap out your transactionHave working capital so you can buy rightReserve properly for the what if'sLine up your contractors a head of your purchaseGet your calendar set For more information: www.westoneinternational.com www.adamcohentoday.com