EP36: How to Negotiate Creative Finance Real Estate Deals with Jenn & Joe Delle Fave
Welcome back to the Women Invest In Real Estate podcast, friends! This episode is part 2 of our 4-episode mini-series with investors and creative finance specialists, Jenn & Joe Delle Fave. This week, we’re diving into how to find creative finance deals and what to say to a seller to get the conversation started, plus we’re walking through how to put together and negotiate a creative finance deal from start to finish. Let’s get started!
If you haven’t already, go back and listen to episode 35, where Jenn & Joe broke down the most common creative financing methods.
“If you don’t have leads, you don’t have a business.”
How do you find creative financing leads?
One of Jenn & Joe’s favorite ways to find leads is actually by connecting with people on social media, specifically Facebook (also one of our favorites as well). Believe it or not, Facebook is one of the largest platforms that people go to list properties they’re trying to sell. But, they’re not looking in real estate groups. They look at local buy, sell, trade pages, and also local garage sale pages to find leads as well.
What do you say to the seller when you want to propose a creative finance deal?
One of the best parts of Jenn & Joe’s Creative Finance Playbook (keep reading!) is the script they give you to use in this exact scenario. It’s all about asking the right questions to keep the conversation moving forward. The most important piece of this is to make sure you find out why they are selling so you can pinpoint how you can best help them reach their goals and stay in alignment with your own.
How do you fill out a creative financing purchase agreement?
While each deal can differ based on terms, the basics remain the same. Jenn & Joe use a standard purchase sellers agreement for their county that outlines:
Who is the buyer
Who is the seller
Both parties information
Payment terms (including: purchase price, monthly payment, term length, money down, or any other comments/notes)
Any addendums or other required information
All of this information will be forwarded to your attorney who will put together the final agreement.
Thanks for listening friends, make sure you tune in again next week for part 3! We’ll catch you in the next episode!
Resources:
Listen to Episode 35, part 1 of the 4-episode mini-series
Book a Consultation Call with Jenn & Joe and mention WIIRE to receive $2,500 off their programs!
Visit Jenn’s website
Connect with Jenn & Joe on Instagram
Check out Jenn & Joe on YouTube
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