Harry had a Real Estate Plan
Harry (not his real name) has been a working tradesman all his adult life. For most of those years he's been in business for himself. And it's never been easy.
Since I've known Harry–over 10 years now–he's been locked in a struggle with the IRS. Unpaid taxes for a couple of years can really add up. Best you can do is an installment agreement. Meanwhile interest and penalties continue to pile on.
Harry stuck with the mission. Today the IRS is paid off and he's "getting on with the rest of his life." But this isn't just another survivor story.
Harry had a Plan
While all this was going on Harry was laying the foundation for his Future. It took a few years, but he cleared up old credit card balances and steadily repaired his credit. No, it will be a while before he's batting 800 on his FICO, but today he'll qualify for financing to buy a home. Not the best interest rates, but hey!
A home of his own...
A couple of years ago Harry ran into an investor who was willing to sell him a little frame bungalow "on contract". Instead of rent, he's faithfully been making monthly payments on that contract and making improvements to his home. This fall he'll be in position to refinance that contract and complete the purchase he's worked so long to accomplish.
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There is Always a way (for you too!)
In real estate as in life, "there's always a way..." A long time member of the Urban Rehabber Program, Harry got good advice and acted on it. He turned Sweat Equity and persistence into real equity. The oldest "wealth building" tactic there is (and no smoke and mirrors!).
- Philip Elmes
Urban Rehabber Program
© Philip Elmes. For more about Phil Elmes and the Urban Rehabber coaching program go to: http://www.UrbanRehabber.com
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