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Jumping into the creative space is a surprise episode full of tips from Bill Twyford. First, Bill highlights the gap of people with cash yet not the best credit. Hence, he emphasizes the need to be creative and help fill the void as investors. Next, Bill offers some creative scenarios, shares how they make sense and explains how the profits work. Most importantly, Bill recommends that you have multiple exit strategies. Lastly, he encourages you to watch several times and take notes. Also, he asks you to leave lots and lots of comments so that Dwan is sure to notice this surprise episode which he snuck into her recording files. 🙂 In closing, Bill encourages you to take calculated risks so that you won’t become complacent.
Thank you to Jeanne`McKee for tuning in on Apple Podcasts for leaving the following review:
This podcast is exactly what I need to help on my financial journey. You provide friendly useful content. Love it! Thank you!
:56 Bill introduces himself and asks for a show of hands for who doesn’t make the money they think they’re worth.
2:27 Bill introduces today’s topic: creative space.
3:10 Bill mentions that people have cash to put down but don’t have excellent credit.
3:27 Bill explains how investors can help fill the void right now.
3:38 Bill explains “subject to”s.
4:40 Bill explains how to handle someone responding to one of your signs.
6:15 Bill emphasizes that you’re either in control or out of control.
8:30 Bill gives a personal example of how a “subject to” works.
10:00 Bill explains that you qualify by seeing how much money they have to put down.
15:00 Bill explains deferred profit and how you get three profits on these types of deals.
16:13 Bill explains how you make a profit at the front end of the deal, otherwise known as front load profit.
17:30 Bill explains the second profit.
18:35 Bill explains how the loans go down over a period of time.
21:02 Bill looks at the equation from a wholesaling angle and doesn’t recommend.
22:15 Bill emphasizes the importance of having multiple streams of exit strategies or else you’re not helping homeowners.
22:53 Bill explains what would happen if the house is listed with an agent.
29:00 Bill recaps what it costs and what you make for the multiple streams of exit strategies.
32:47 Bill encourages you to go back and listen several times and take notes. He also would love you to take a minute and leave a review.
34:01 Bill shares this week’s equity of life challenge along with a personal story including an important lesson.
36:26 Bill emphasizes the importance of taking calculated risks so you don’t become complacent.
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