Real Estate Investing School Podcast 148. REAL DEAL: Creative Partnership Scores a Golf Course Gem with Blake Erickson
Welcome back to the Real Estate Investing School Podcast! In this episode, Brody sits down with his good friend Blake Erickson, who recently closed on a short term vacation rental in one of his favorite vacation spots. The conversation goes through how Blake and his partner Alex found, funded, and forced the seller financed gem.
The property is an Airbnb in Southern Utah, backed up to Copper Rock golf course. The negotiation process included creative financing options, such as interest-only payments and a delayed first payment. The deal was structured with a 10% down payment and a 5-year balloon payment. The partners plan to either sell the property or refinance it after 5 years. The episode emphasizes the importance of thinking creatively and finding win-win scenarios in real estate deals.
Key takeaways from the discussion highlight several strategies for financial savings and increased cash flow. By negotiating intricate details, such as opting for interest-only payments and arranging for delayed first payments, significant monetary savings can be achieved, directly impacting cash flow in a positive manner. Additionally, a deep understanding of the motivations and priorities of both buyers and sellers is crucial in negotiating terms that are favorable. This knowledge allows for more targeted and effective negotiation strategies.
Learn how you can get creative with partnerships and financing! Get your next property under contract and book a free strategy call with us in the link below to see how we can help you!
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