Weichert, Realtors® - MN Real Estate Options Blog

Sweat Equity | Work Credit by Owner

Posted on Wed, Jan, 30, 2013 @ 12:01 PM

 

Definition of "Sweat Equity"

  What Is Sweat Equity?

Sweat equity is the term used to describe the time a homebuyer volunteers.

You need to be very careful with sweat equity because each person that receives it becomes a partial owner. Thus not only do you need to choose a good resource but you must also choose good partners. You need a good contract.

If you want to own your own home (or some rental property for extra income), and have a great work ethic but not a whole lot of cash, a fixer-upper can be your best bet. It’s important to make sure you get the right fixer-upper, though, and not something that needs a little more fixing or investment than you’ll be able to handle.

To view all active MLS listings of available "sweat equity"  properties, CLICK HERE! 

 

 

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