Educating yourself is definitely an asset, knowledge is a huge asset because once you learn something you can't unlearn it and the more you use all the tools that are available to you, the easier your life will be, the less stress your life will be.

Welcome to the Big Fat Real Estate Checks Podcast with Marco Kuzlowski, where we help investors like you get the knowledge and skills you need to replace your J-O-B with passive cash flow for life.

Hey everyone, welcome to Big Fat Real Estate Checks. My name is Marco Kuzlowski, I'm here with Gabrielle La Reyes and Francesco Galuccio.

We are here for your pleasure and amusement today. This is all about giving you as much value as possible. If you are not familiar with Big Fat Real Estate Checks, simply listen to the first 10 episodes.

You will understand more about asset-based lending, how we buy assets using none of our own money, using skills.

Very, very good skills instead of our own money in order to acquire assets that give us passive income and we're always delighted to give you as much value as possible as I think I just said then.

I'm repeating myself, repeating myself, repeating myself, repeating myself, now that I'm in my 50s, repeating myself, repeating myself over and over again.

We are going to talk today about actually an email, a direct message that came in on a person that has a property that has a significant amount of equity, very low interest rate to just under 3% interest rate, which in these times is going to be almost half of prime, actually 2.79 I think is what the message was.

Yep, but the property with a family member, a family member is now out of the picture and has this burden of this mortgage, which is, I would say, 2-thirds of what this person makes.

The mortgage payment is very daunting, meaning very little left for food and taking care of yourself and driving and all the other things that cost money.

And as the taxes rate go up, the fear is not be able to pay the tax on the house and lose the farm.

They asked if we could give some insight on how we would handle the situation.

So I'm going to make the assumption, and I think I read between the lines that credit would be a problem since their debt ratio would exceed the capacity to refinance to pull out a few hundred thousand.

I think it was $300,000 in equity in the property.

So it's a pickle that maybe many are in.

In fact, I had a conversation with a very similar case where this person had actually refinanced their home and used the interest from the loans to actually pay all her expenses.

Basically, she lives for free almost, and she got advice to sell her property and had about the same amount of equity in it.

And my question was, why would you want to sell a property if you're living for free?

And because once you have a cash, you're just going to live on it, and now you don't have any equity, and you don't have a free house.

So if you have a roof over your head, that's the most important thing, because it's pretty stressful when you sell things that you are living in.

So let's try to brainstorm a little bit on how we can help this human.

I know we all have different ideas, so who wants to go first?

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