SO MANY WAYS TO BUY (PART 3) BRUCE KELLOGG
“Sweat Equity” involves the purchaser convincing the seller to allow them to fix up the property in lieu of a
down payment while the seller carries back the financing. Doing the repairs prepares the property to obtain a
new loan and, at the same time, it secures the seller's loan more as the repairs are accomplished.
“Personal Service Contract” Involves a purchaser providing some service to the seller in lieu of a cash down
payment. Examples include a plumber repiping the seller's residence, or a dentist providing dental implants to
the seller.
These three techniques should probably be used with the help of a real estate attorney.
Bruce Kellogg
Bruce Kellogg has been a Realtor® and investor for 35 years. He has transacted about 500
properties for clients, and about 300 properties for himself in 12 California counties. These
include 14 units, 5+ apartments, offices, mixeduse buildings, land, lots, mobile homes,
cabins, and churches. He is available for listing, selling, consulting, mentoring, and partnering.
Reach him at [email protected], or (408) 4890131.