What does it take to turn creative financing into a pathway for financial freedom?

In this episode, Alexander Perkins, a real estate investor whose journey has taken him from humble beginnings to mastering creative financing and subject-to-deals, shares his experience transitioning from a W2 job to becoming a full-time investor, his strategies for house hacking, and the importance of building a reliable team for creative real estate transactions. He provides actionable insights on leveraging VA loans, minimizing risks in subject-to-deals, and navigating challenges in wholesaling.

[00:01 - 04:18] From Subcontractor to Investor

• Transitioning from dissatisfaction with a W2 job to real estate
• The power of frugal living to save for investments
• First project lessons: overcoming emotions and learning the ropes

[04:19 - 08:32] The Wholesaling Challenge

• Wholesaling as a cash-generation strategy for buying rentals
• Debunking myths about wholesaling being "easy."
• Balancing excitement for deals with strategic decision-making

[08:33 - 12:11] House Hacking: The Art of Living Lean

• Leveraging owner-occupied loans for minimal down payments
• The financial benefits of living in investment properties temporarily
• Comparing the pros and cons of single-family rentals vs. syndications

[12:12 - 16:20] Understanding VA Loans and Sub-To Deals

• Insights into subject-to deals with VA loans and how they work
• Risks and mitigation strategies for the due-on-sale clause
• Creative financing as a solution for military homeowners

[16:21 - 22:22] Building the Right Team

• The importance of a strong transaction coordinator for creative deals
• Navigating family dynamics and hiring specialists in real estate transactions
• The role of planning and preparation in avoiding costly mistakes

Key Quotes:

"The bank doesn’t want to foreclose; they just want their payments. Understanding this can open up new opportunities." – Alexander Perkins

"You have to build your team before you face challenges; being unprepared can lead to costly mistakes." – Alexander Perkins

Connect with Alex:

LinkedIn: https://www.linkedin.com/in/alexander-perkins-rei/

Facebook: https://www.facebook.com/alex.perkins.83/

Instagram: https://www.instagram.com/alex_perkins96/

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