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Epic Real Estate Investing

How to Pay Off Balloon Payments on Short Term Loans | 3rd Degree Thursday

Epic Real Estate Investing

Matt Theriault

Business, Investing

4.7955 Ratings

🗓️ 20 November 2014

⏱️ 7 minutes

🧾️ Download transcript

Summary

A few weeks ago, Matt talked about the power of getting personal financing from friends and family.  Today, he answers a listener question regarding how to pay off those loans quickly (3-5 years).  Enjoy!

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Transcript

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0:00.0

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0:58.9

Hello and welcome to another episode of Third Degree Thursday. This is the show where I

1:07.3

subject myself to you giving me the third degree. So I've got a question today, question from Andy B, and Andy writes, Matt, I liked your

1:15.3

financial freedom message last week about utilizing friends and family money. One question,

1:21.5

how do you do that and return their money within a short time frame, two or three years?

1:26.0

Thanks Andy.

1:27.0

Okay, so good question. The fast answer to your question, Andy, is you would have to either sell the property or

1:34.3

refinance the property to return their money in a short time frame or pull the

1:38.6

money from another source that you might have. That's the fast answer. But it's not how it typically pans out. You know, many people

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