16: Lessons Learned from The Market Crash and Seller Financing Tips with Buddy Broome
After a binge-reading session of Rich Dad, Poor Dad, Buddy Broome and his wife were on their way towards becoming real estate millionaires. Unfortunately, their first purchase was in August 2008, which was shortly before the market crashed. That first deal immediately lost a large portion of its value, but Buddy quickly started noticing how cheap other properties were and got the itch to buy again.
Their next deal was over market value, but creatively financed by using seller financing in a way that it cash flowed from day one with very little of their own cash invested up front.
Buddy walks us through some of the ways that he is marketing today and how to use creative financing terms to create deals in any market. After a few difficult lessons learned early on, his tactics to buy and evaluate deals have been tested through every market cycle.
Today, Buddy is an attorney and also owns a portfolio of rental properties in Southern California.
Recommended Book: Building Wealth One House At a Time
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