Can you define creative financing for me please

[lawsjs]

Reply: 3.2.1.1
From: Jeremy Laws


Heres creative!
Unemployed friend buys 3 br townhouse in SYD for 450k gets valuation of 550+. splits difference with valuer and pockets 35k. He has less than $500 in bank at this stage and AMEX chasing him for money. Thats creative! How much is the return on that!!

 

[Michael Croft]

Reply: 3.2.1.1.1
From: Michael Croft


That sort of creativity will get the valuer into a lot of bother, if not jail ;^)

 

[lawsjs]

Reply: 3.2.1.1.1.1
From: Jeremy Laws


Got him into a house with less than zero down first though!