18. Creative Financing 101 with Jenn and Joe DelleFave (part 1!)
What comes to mind when you hear “creative financing”? In today’s episode I sit down with Joe and Jenn Della Fave to learn about their unique business model. I met Joe and Jenn through a like-minded investor group and was immediately intrigued when I heard their story. They bought their first flip together in 2008—such an ideal time to start in real estate investing right? Joe had watched his parents and grandparents invest in real estate, and had the benefit of seeing what worked, and what did not. Pretty quickly into their journey they realized they did not have interest in being landlords. They wanted to do things differently in a way that would work for them. Cue the infomercial VCR tapes (yes, that’s how Joe learned) and so began years of working within the “creative financing” umbrella. Joe and Jenn have created a business in which they are able to offer “rent-to-own” properties and deals that benefit them, the seller, and the future buyer. As Joe explains, “If you do real estate right, everybody wins”. They talk with me about what makes a great future tenant buyer and how having a tenant in a rent to own agreement is different from your typical renter. This all makes more sense as we go through an example “deal” and you really see how this works in action. (40:50) What exactly happens with that down payment from the tenant buyer? Tune in at 58:50 and they explain it all more clearly. We talk about how the couple finds the perfect properties, oftentimes using leads from direct mail (I for sure took some tips from their letter campaigns) and the importance of having the right people on your team. We agree that Facebook is a great resource for reaching people interested in selling, as well as referrals. Ultimately networking with other investors brought great results as well. Joe and Jenn were so transparent during this interview and gave great examples with numbers, so by the end of this episode it will all start to click, I swear. We have more to discuss so look out for the continuation of this conversation! --- Support this podcast: https://podcasters.spotify.com/pod/show/nerdsguidetofi/support