Is it possible to create a note out of a paid off property?

[Jorge Garifuna]

Hello all,

I'm wondering if it is possible to create a note out of a property that is paid off without selling the property.

I have 21 doors across 10 properties that are fully paid off and 100% rented.  I'd like to acquire more properties and someone at my weekly real estate meetings hinted that there might be a way to create a note against one of my properties to raise money without selling the property.

Any guidance with this regard would be greatly appreciated.

[Darren Eady]

That's called "borrowing"

Yes, it is very possible!