From Losing A Job To Being A Creative Financing Expert

Patrick Fitzgerald is a real estate investor in the Cincinnati market. In this episode we dive deep into creative financing which is one of Patrick’s favorite real estate strategies.

Everything didn’t come easily though. Patrick was doing real estate part-time while working a full time job and unfortunately he got laid off. Ultimately it was the best thing that ever happened to him because it forced him to take his side gig of real estate investing full time.

Patrick works with high integrity and this shows on the call. Do what you say you are going to do and focus on solving people’s problems and over a long enough time success is inevitable.

Don’t Forget To Reach Out To Patrick Fitzgerald:

https://www.instagram.com/patrick_fitzgerald30/

// QUOTES

"Relationships can always be fixed or new ones can be found. Lost money on a deal can always be found elsewhere"

"Real Estate is a great path to buy your time back and not have to work 60-80 hours a week for your whole life if you don’t want to"

"It’s hard being rich and it’s hard being broke so you gotta just pick one. I either make it or I don’t but I am going all in"

"Creative financing is a loose term. Technically creative financing could just be using somebody else’s money to buy a property. The strategies I focus on is buying subject to and buying on seller financing and selling on terms"

"If you don’t know how to use creative financing, find somebody that does and leverage their knowledge. It could take your business to places you never knew it could"

// CONCEPTS

• When dealing with a loss on a deal I know I have the knowledge and skills to just go make up the difference. So I just have to go do that.
• Started out as a Realtor and quickly found out that wasn’t for me. Everybody knows that real estate makes the most millionaires. So I started getting into wholesaling strategies.
•Pat got laid off and a severance package and it was one of the best things to ever happen to him. He was able to devote all of his time to investing and things took off from there. He wishes it happened sooner
•A paycheck is something they give you to make you forget about your dreams - From Matt
• Leverage and perspective go hand and hand. Perspective being how somebody looks at certain things and what do you have to leverage. The goal of most people in business is to find a problem and solve it.
•When choosing a mentor make sure that they are actually doing what they are telling you what to do
•It’s important to find a network of people that are working on the same or a similar path as you. When you work together and try to help other people your business will grow faster.
•Creative financing is a widely used strategy; it is simply not as common.
•This whole game is about perspective. This is a subjective business but it is all based on what the end buyer wants.
•Living my life with high integrity is something that came about by hanging around with other people that had those values. True integrity is when you do the right thing when nobody's looking.
•A billionaire knows how to make money. A billionaire knows how to make other people money.

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// TIME STAMPS ⏲

0:00 - Introduction
0:30 - Craziest Real Estate Transaction
11:00 - How helpful was it to have an experienced hard money lender assisting you?
14:30 - What kind of mindset strategies did you use to navigate the fire situation?
15:50 - What were you doing before real estate and what attracted you to real estate?
19:20 - Patrick talks about getting laid off and being forced to pursue investing full time.
23:50 - What are some lessons you learned along the way
26:00 - Leverage is key
27:50 - How has your mentor helped you along the way?
35:40 - How are you utilizing creative financing to grow your business?
39:40 - Creative financing is a great way to get people that are good buyers that would not have the opportunity otherwise to acquire real estate
46:30 - Core values in business
54:45- What are you building for the next 12-18 months?
56:15 - What is the best way to reach out?

//TAGS

From Losing A Job To Being A Creative Financing Expert bigger pockets money show economy virtual wholesaling jeremy lefebvre zach ginn propelio academy biggerpockets housing market crash creative financing creative financing real estate jobless how to get a job techniques job opportunity business opportunity