Or, you can call your local credit union and they will likely either have an application to fill out or start asking you questions, and they should guide the whole process from there.

Never had anyone call to ask how to use it, although to be fair, I'm not sure how many people watch TV.

To clarify @Jason Wray's response, monies pulled out of an exchange are called "boot" and you pay taxes on them. 

Also, the $85K lot was way overpriced in 2006 and is only assessed for $65K; however, the offer has yet to be made, only calls from realtors.

So for a project that had a 100k purchase price and needed 70k in work, you'd only have to bring maybe 20k to the closing total, as compared to the 170k it would take with cash.These bridge loans do get called "cash" offers at times or are looked at as cash offers at times, but they are financing and they still do take 3 - 4 weeks to close, their are outfits who will close in 5 - 7 days but you will pay extra in origination for it.

I myself see a big problem ahead of us , for years there has been a shortage of , lets call it affordable housing , and its gotten worse .

Some mentees will act as a bloodhound for the mentor, knocking on doors, driving for dollars, scouring the internet, making cold calls, or performing other services that help the mentor find new deals.

Please check out the book I co-authored called Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending published by BiggerPockets.com/lendtolive.

This is more of a conversation to be had over a phone call if you are interested.

Even though it will be called a small group home since I will not be living in in the home.