King: You said that this is a good time to buy real estate. What about financing? What if you want to buy and you can’t get the mortgage?
Trump: Larry, this is a great time to buy real estate.
And as far as financing is concerned, the only financing you should be thinking about is seller financing. If the seller won’t give you financing, don’t do it, because the banks are not doing their job. They’re not providing financing for deals.
This is a great time to buy, I agree with Donald and it will continue for 3 years in many areas. If you look hard enough, you can find seller financed deals. But you can also cherry pick the REOs and many of the smoking deals are REOs. In my opinion, private money is the best way to go. You can couple it with hard money and conventional. Any investor that does not have private money backing is likely waiving goodbye to dozens of highly profitable deals every month.
Conventional deals equal less money. Unconventional deals are perhaps riskier and/or require more skill so naturally they will make you more money.
BTW when Donald Trump talks, he is referring to deals on his mind, which are not the same deals as a SFR. His examples are less applicable and less specific than say a local guru who has done real estate deals in your local town.
Stick with the local guy not Trump. He’s all cliches anyway.
Guru’s info is outdated.I, like alot of you spent alot of time/money on there stuff.Its good to get you inspired is about it.I found more info on forums like this with real people who are in the trenches than anything else.Go to your local REI club meets too.Good luck.