How to Buy Houses with Creative Funding w/Mitch Stephen
To create and foster long-term success, we need to find more creative ways to finance our investments. Is there ever an appropriate time to use our own money to buy houses? What should we be doing with the money generated from temporary strategies, and where are the best places to invest for forever strategies?
On this episode, veteran real estate investor and author of the My Life & 1000 Houses Series, Mitch Stephen shares his insights on creative funding.
It doesn’t matter how much access you have to money – don’t use it to buy houses. – Mitch Stephen
Watch the Full Episode Here:
3 Things We Learned From Mitch Stephen
- No matter how much money we have access to, we should never use it to buy houses. Have creative strategies in place and use private money.
- Use the money generated from temporary cash strategies to fund ‘forever’ strategies. All the money we make from temporary strategies should be put back to work.
- One of the best places for us to invest in is a storage facility, where we can avoid too many overhead costs.
On this episode, we discussed how it’s possible to keep our businesses running smoothly even in times of recession. We spoke about the importance of using private money sources, and explained why it’s vital to have a good understanding of local laws and act with integrity.
We also discussed:
- The challenges investment books don’t prepare us for
- Why it’s important to learn from others in the real estate investing space
- How to handle difficult situations- such as dealing with con artists
Mitch Stephen is a real estate investor, and the author of the My Life & 1000 Houses book series. With over 25 years of industry experience, Mitch has bought over 2000 houses in San Antonio. Today, he specializes in owner financing properties to those left behind by traditional lending institutions. Mitch is a firm believer in the value of integrity, and gives speeches on its importance.
To find out more about Mitch, and to purchase his books, head to https://1000houses.com
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