Get Ready For Major Profits! π€| Wholesaling Real Estate
February 2, 2025
So the plan was to list this house when we were about 60 days out, because it'll sell in a weekend still. The only difference is now houses are selling 40, 50, 80 to 100 grand over, which is nuts. So technically, we could probably even sell it for way more than the equity that I'm saying we're in. The equity that I say we have right now is kind of just the fair market value right now. But if we sold it, we probably would make more. But my point is, um, we could still get the money out that she wants, but it would be tax free because then my business would own it. Let's say my business bought it from ourselves. And then I put a loan on that property, uh, you know, a cash out refi because I buy it, you know, with technically, uh, I could use cash or hard money or some kind of short term loan or whatever. Uh, and then we refi out of it, Pull all that cash out tax free because it's part of the loan.Β
So the plan was to list this house when we were about 60 days out, because it'll sell in a weekend still. The only difference is now houses are selling 40, 50, 80 to 100 grand over, which is nuts. So technically, we could probably even sell it for way more than the equity that I'm saying we're in. The equity that I say we have right now is kind of just the fair market value right now. But if we sold it, we probably would make more. But my point is, um, we could still get the money out that she wants, but it would be tax free because then my business would own it. Let's say my business bought it from ourselves. And then I put a loan on that property, uh, you know, a cash out refi because I buy it, you know, with technically, uh, I could use cash or hard money or some kind of short term loan or whatever. Uh, and then we refi out of it, Pull all that cash out tax free because it's part of the loan.Β