Manage episode 367533053 series 3489101
In this episode of the Real Estate Wholesaling Syndicate podcast, host Ky Logue interviews guest Kash Money Mike Termine, a creative buy and hold investor and seller finance educator. The podcast focuses on seller financing and creative financing in the real estate wholesaling industry.
Kash Money Mike explains that creative financing is a strategy that allows investors to structure deals in a way that helps them achieve long-term wealth. He highlights the importance of understanding different types of deals and identifying those that contribute to long-term success.
Seller financing, according to Mike, is a low-risk acquisition strategy within the umbrella of creative real estate. It involves finding properties that are fully paid off and structuring terms with the seller, often providing them with more money or meeting their specific needs in exchange for time.
Ky shares his experience of realizing the advantages of creative financing over traditional wholesaling, as it allows investors to offer more than the typical 70% of the after-repair value (ARV) when purchasing properties. Creative financing provides a win-win solution for both the investor and the seller.
The discussion delves into the misconception of using creative financing as an option rather than a solution. Kash Money Mike emphasizes the power of treating it as a solution and the importance of having meaningful conversations with sellers to understand their needs and provide the best possible outcome.
The podcast also touches on how Kash Money Mike acquired his name, which originated from a moment when he pulled out cash from his pocket and a pitcher on his team jokingly called him "Cash Money Mike."
In recounting his journey into seller financing, Kash Money Mike shares his passion for real estate, his initial interest sparked by his father's properties. He talks about his early experiences, including attending a foreclosure training, becoming a broker, flipping houses, and gradually learning and embracing creative financing.
During the podcast, the hosts engage with the audience, answering questions and discussing topics related to seller financing, building rapport, taking over mortgage payments, refinancing, and concerns about the due-on-sale clause.
Overall, this episode provides valuable insights into the world of seller financing and creative financing in the real estate wholesaling industry.
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