Are you treading water in a sea of real estate competition? Discover why creative real estate is the skillset that sets successful investors apart!
If you find yourself treading water in a sea of real estate competition, you may be looking for an edge to set yourself apart. Maybe you’ve been dabbling in real estate for years and just don’t know how to take it to the next level. Or maybe you’re brand new to real estate and looking for a shortcut to make faster cash and flip more deals without a lot of your own cash or credit? In this training, you'll learn why creative real estate is the critical skillset most investors lack, and how you can learn it and take your investing as high as you want to go to transform your financial future!
For nearly 20 years, our organization has mentored many of America’s most successful real estate investors. We’ve helped countless investors master creative investing techniques that have made them unstoppable and allowed them to dominate their local markets. But what exactly is creative real estate investing, and how does it compare to traditional methods?
Creative vs Traditional Real Estate
Traditional Investor
Traditional real estate investors often work a full-time job and have an agent out looking for properties for them to purchase for rehab or rent. They typically do some work to repair or improve the property, and then either flip to a retail buyer or hold the property as a rental. And they often rely on their own cash and credit, which limits how many deals they can purchase, especially if they’re competing with other buyers and forced to work on thinner margins.
While this approach can be effective for those working full-time jobs, it places a limit on scalability and is typically a long-term approach to building a real estate portfolio. But what if you’re looking to make income with real estate in the short term and the long term, you don’t want any limit on how many deals you can take on and hold, and you are interested in pursuing real estate full time? Enter, creative real estate investing!
Creative Investor
What is a creative real estate investor? First and foremost: they’re investors that think and operate outside the box. They skillfully leverage other people's money, far beyond hard or private money, and can offer solutions to real estate problems that others can't resolve. Some sellers don’t have the equity or the time to have many options, but we teach our apprentices how to still find the best solution and make fast money in the process. Whether it’s owner financing, taking over properties subject to, lease options, or a combination of techniques, creative investors think outside the box, creating opportunities where others see obstacles.
However, a big barrier to creative real estate is training: you have to learn a lot, well outside traditional real estate, and you need to learn it from an investor that’s done it successfully before. Find a mentor, a coach, to teach you creative real estate and you can have unlimited opportunities, no matter what the market and interest rates are doing, and you can do it without banks, and without a lot of your own money. For more detail and a comparison, check out Phil’s video: Creative Real Estate vs Traditional Investing
3 Most Important Skills
If you’re seeing that creative real estate can open new doors and new opportunities for you, that leads us to our question: What are the 3 most important skills a creative real estate investor needs?
Skill #1: People Skills
The most critical skill for a creative real estate investor is the ability to understand and connect with people. That’s right, it’s not mastering real estate techniques or financial markets, it’s trying to master the hardest creature to understand and that’s a lot harder than you may think! Years ago, at a training a young man, just starting college, asked Phil what he should major in that would benefit him most as a creative real estate investor. And without hesitation the response was: psychology!
Real estate is inherently a people business, especially when dealing with motivated sellers facing life challenges. They’re overwhelmed financially and faced with big decisions that affect their family and their future. Empathizing with their situations, building rapport and effectively communicating can differentiate successful investors from the rest. You need to be able to discern their wants and needs, and pattern and predict their behavior, through their real estate roller coaster, to keep them from derailing! Trust me, the more you learn people, the more money you’ll make as a creative real estate investor!
Skill #2: Creativity
True to its name, creative real estate requires innovative thinking. A creative real estate investor must develop their creativity. Most of us were trained to think inside the box, there’s one right answer, and you better color in the lines to get to it. In contrast, creative real estate demands you learn to think outside the traditional box, and that requires a lot more real estate education and training. This often involves hands-on experience working alongside someone seasoned in these strategies. So, you really must work with someone that’s been there successfully before, unless you want to reinvent the wheel.
We’ve closed thousands of creative real estate deals, and I assure you, every single one is unique. Property dilemmas have lots of similarities of course, but each is going to require specialized solutions. And that’s how you’ll master real estate creativity: doing creative deals. Subject To, owner finance, lease options – sellers with unique real estate problems will seek out your expertise, you focus on creative solutions to solve their problems fast, you’ll create wonderful homeownership opportunities simultaneously, and you can make great profits at the same time.
Skill #3: Attention to Detail
The success of a creative real estate deal lies in the details and creative real estate investors must develop their attention to detail. Unlike traditional approaches, where investors rely on a myriad of experts and banks to do it all, creative investors must manage these details themselves. We solve seller problems very efficiently, and that means you need the right training and the ability to understand and execute the details a creative real estate deal requires. From the due diligence on the property, condition, seller, and liens, to deal analysis on the market and property potential, you can’t leave any stone unturned. Should you be in and out of the deal short term, or will it require a longer-term commitment? How do you mitigate risk and ensure your profit upfront, monthly, and on the back end?
Again, it goes back to the right training and education to ensure you don’t miss anything, and so you remain well positioned to consistently take down profitable deals and better leverage other people’s money and credit.
A Win-Win-Win Strategy
When you master these techniques, you can quietly and consistently generate profits, with little to no competition, no matter what the market may be experiencing, and all the while, solving people’s real estate problems and actually helping them improve their situations and their future. A well-executed creative deal provides a win-win-win: you help the seller, fulfill a buyer's dream of homeownership, and generate substantial profits in the process.
Every Successful Creative Real Estate Investor Has a Mentor
How many real estate deals would it take for you to change the rest of your life? Real estate is the best business there is, and creative real estate investing can help you take it to the next level, but you need the right training and education – you need a mentor. We’ve helped countless investors learn creative real estate and forever change their lives. If that’s what you’re looking for, join our Apprentice Program, and our team will mentor, coach, and guide you to financial success: Freedom Mentor Apprentice Program.
If you have questions for us, text FREEDOM to 305-315-8030 or post a comment below.
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