Wendy Patton is a very successful creative real estate investor who started when she was young and broke. She has found that creative seller financing is a way to invest in real estate without using traditional bank financing. Wendy Patton’s focus is on lease options, subject tos, and land contracts (contract for deed). She has a blog and many articles to discover more about creative seller financing.
Her shift to Real Estate Investing at 21 Years of Age
At the age of 21, Wendy started investing in real estate. Like most young adults she was single, broke, thinking “Corporate America” was her only future. She graduated from college, was hired for that corporate America “dream job”, but was $20,000 in debt. She found real estate investing and realized that Corporate America wasn’t the golden path to what she wanted.
When Wendy began investing in real estate, she didn’t fully understand her financing options, so she started purchasing real estate investment properties on her credit cards.
“At that time I didn’t know of any better way to invest. I did not have the assistance or availability of coaches and instructors. I wish I knew then, what I know now about investing in real estate and creative seller financing” Wendy stated.
By the time she was in her early twenties, she had more than $200,000 on her credit cards (for her real estate deals)! She then got married, had twins, got divorced, and found herself to be a single mother, all within a short time span. Over the next few years, she accumulated more properties while working full-time in the corporate world.
She needed to make a living, and make it fast to pay off the credit card debt she had accumulated. She came to specialize in creative seller financing techniques like lease options, subject tos, land contracts, and seller financing.
So why these techniques you may ask?
Because like many of you, she didn’t have the money or the credit she needed to buy in a conventional way. Now, with the lending industry the way that it is, most real estate investors can’t buy properties without being creative. These techniques are crucial for today’s real estate investor.
To learn more about Wendy and how to connect with her listen to Gary’s recent interview with her on our Massive Passive Cashflow Podcast #74.