Every problem is unique, and to solve it, it takes an approach that is just as unique. Bill Ham, master of creative solutions, is the Chief Operating Officer (COO) and the driving force behind Broadwell Property Group. He has more than 20 years of experience in Real Estate with a proven track record of identifying, acquiring, operating, and divesting large footprint Multifamily Housing. Bill educates others by taking his skills as a Real Estate Entrepreneur and sharing them through speaking, and his latest book, Creative Cash. As a Real Estate Entrepreneur, a sought-after speaker, an author, and an operator Bill’s real passion lies in education. He has been a coach and mentor to the future titans of Multifamily and counseled hundreds of students who have gone on to close countless millions of dollars in their own deals, many crediting Bill with their success.
Dive into the episode with us and learn more about creative financing for whatever real estate asset class you identify with.
Getting to know Bill Ham - [00:01 – 05:44]
I introduce Bill Ham to the show
Bill gives a bit of his background
Started out as a pilot
Seeing friends make more money in one deal
Jumping into the education process of Real Estate
Bill’s first deal - seller financing
Creative Financing for all Types of Deals - [05:45 – 28:13]
Bill gives an intro to creative financing
It can apply to any financial asset
Using an offer to create value for a seller
What problem can you solve?
Anything legal and ethical is within the bounds
Bill runs us through examples of creative financing for multifamily
Connecting with problematic situations
You don’t find them - just look at deals
Look at why the deal doesn’t work
Deal analysis not deal flow
The skills you need to execute a creative financing situation
“The S.P.Y. Technique”
Seller, Property, You
Know the seller and their goals
Analyze the property and what you can solve
Answer whether or not it’s worth it for you
Evaluation not renovation
Creating an effective operation
Make deals rather than find them
Buy on your proforma not the realtor’s
The nuts and bolts of a seller finance deal
Think of it like a bank
Down pay 10 to 20% depending on the property
Interest rate is negotiable
Refinance or sell - ‘The seasoning period’
The Quattro Trio - [28:14 - 36:39]
What resources do you have for listeners?
More about Bill’s book Creative Cash
Connect with Bill!
What is your superpower?
Tolerance for failure - understanding the art of failure
Practice is not insanity
What was your biggest failure?
Too arrogant about reputation and ability
“Creative financing, in a broad spectrum, is using an offer to create value for a seller - that’s the short answer.” - Bill Ham
“There is a myriad of reasons why someone would do this kind of financing - it has many options for us to create value… It’s all about solving somebody’s problem, creating an offer that translates that message in getting that deal done.” - Bill Ham
“Creative financing is not a one-stop solution. It is meant to create probability, not a possibility, probability.” - Bill Ham
Want to connect with Bill? You can follow him on LinkedIn and Instagram. You can even email email@example.com directly. Check out https://broadwellpropertygroup.com/ to learn more creative ways to build generational wealth through multifamily!
Check out Syndication Pro and learn how you can raise more capital in less time! https://syndicationpro.com/account-setup?fpr=quattro
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.