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In a prior life I was an executive in a small commercial bank.
I sat on Loan Committee.
We had a saying/question: what's the first thing kids will do when they inherit free and clear income properties? Borrow against it!
Mind you - most of these properties were in the OC and threw off great monthly cash flow - but they always want the up front $$!
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David
1972 911T/S MFI Survivor
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