OfflineI have 3 properties that are fully paid off; I need to take some equity out but having no luck with the banks.I need cash fast and I just have these home sitting with tenants. Anyone have any idea how I can get some cash out of these houses? Thanks
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I had a couple looking at one of our properties last Sept. & they were waiting for a retro-active check to be able to purchase...it didn't come, so I sold that house...showed them another house & that also fell thru...finanlly
my last purchase was what they wanted & we did a lease option(they just moved in 6/15/10) signed the contract over a month ago & collected $ 10K; will have positive cash flow of $ 400/month for 2 yrs; & then sell the house for $ 68K.
Paind $ 41.5K for it... Now that's $ 36K profit, it took 10 months & 3 dozen phone calls...but that's still better than having a job ! Now that's persistence...