Unlock Your Real Estate Future: Which Stage Are You Truly Playing At Right Now?
Tony:
One of the other ways that I’ve used that is for new construction. So I’ve done some spec homes, so you don’t need to go into the construction loan route, which is typically pretty expensive. The bank is very involved, so now you have the freedom of basically acting like cash. So the line of credit is essentially using cash, so you can make cash offers on properties, you can build a house, you can pay your subcontractors through cash and then put your fixed financing on it. Or if you’re selling the property, taking those funds and paying down the line of credit to zero again and starting all over.
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