5 Ways to Access Equity for Improvements When Traditional Financing Isn’t An Option

Preview for All The Leads Podcast: Tips From The Trainer with Probate Real Estate Coach Chad Corbett

5 Ways to Access Equity for Improvements When Traditional Financing Isn’t An Option

How Can I Finance Repairs to Get the Most Out of A Listing (Probate or not!) When the Owner Has Equity, But No Liquidity?

In our latest from our Tips From The Trainer vlog series, Chad discusses 5 Ways Real Estate Agents, Investors, and Wholesalers can access and leverage equity to make improvements on a home.

Today’s video was inspired by a question from Susan B. in California. Susan has an opportunity with a home owned by a 92-year old widow with a fixed income in Palm Springs.  She wants to be able to access 75k in equity to fix the property because she knows she can make that another 150k through construction. The owner has equity but no liquidity, so most lenders don’t want to work with her. What are the best options?  Watch below!

 

 

Thanks for watching! Let us know some of your favorite creative financing strategies by dropping a comment below!

 

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Comments (3)

  • Donna Thomas Reply

    Chad, Great ideas, any suggestions on how to find that contractor with the reserves to do something similar to what you described

    July 10, 2019 at 9:41 am
    • Chad Corbett Reply

      My best trick here is to go to Dunkin Donuts at sunrise, pick up an office-size box of coffee and a box of donuts and sit under the porte cochere at Home Depot or Lowes waiting for the guys in new trucks that are picking up supplies before 8am. These are the guys that are running their business like a business and if they have $75k for a diesel pickup they probably have cash reserves and are savvy enough to understand why floating an invoice with a 10%-15% interest charge makes sense. Most contractors operate on a 15% margin so you’re essentially asking them if they would like to double their profitability on a few jobs.

      July 11, 2019 at 3:23 pm
  • John W. Montgomery Reply

    Great content. Thanks1

    October 25, 2019 at 3:15 pm

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