LOL, well if I didn't mention the caution in the other thread, I will here.Dealing with people in a nursing home is very tricky and I just don't suggest it since mental competence will be in question.

it was a family member with serious mental issues. house is the worst in a great location ARV 400-425K. about 100K of rehab. potential of about 50K in profit or about 7500$ in Wholeselling it.

What I like about Kiyosaki's books is that you're taught the mental and emotional fortitude necessary to be successful and wealthy.

Should be easier next time already knowing the potential restrictions, but when you've saved what you think you need and then they go, "nope, you actually need 5k more... in 3 weeks... and you can't use unsecured lines of credit" it can be quite the mental scramble!

And listen to it, practice, drill, rehearse until it becomes natural to you.

@Jason DiClemente Alright, I think I'm over my mental hurdle.

It's very safe that way if it's not a business per se.The reason why you get the feeling from most that it is generally viewed as negative to have a property paid off is due to the fact that the view point of most investors is likely a persistent growth mentality and having an asset that you could refinance and take cash out of does not help you grow if that cash is stuck in the form of "equity", it must be converted through a refinance to generate liquid cash for additional deals - to grow and increase cash flow and profitability of the business.Hope this helps, let me know if you have further questionsJeff

It is a great mental shift in being able to sort out assets and liabilities in your life.

You will need to do some modifications to the house like adding bars, using lower tubs, wider doors, wheelchair ramps, parking,.......I know some investors who target patients with mental issues (rather than physical), since modifications to the house are less.

If you need the money or are mentally tied up on the equity not earning enough take out a home equity loan or refinance it.