In this episode, Mike Lyon discusses how important it is to think ahead. To put pieces into place so you don’t have to feel like you’re making decisions with a gun to your head later on. He opens our minds to another option we had not yet explored on the show: equity sharing.

• Mike talks about his work with homeowners investing in their properties to leverage a portion of that equity.
• When you buy a home and get the money through a lender, you essentially have a partner in the ownership of that property and you’re expected to make monthly payments.
• Equity sharing is similar, but instead of having a lender as the partner any making monthly payments to them, the equity share investor is hoping to share a portion of the appreciation of that property in the next 30 years.
• Short term scenario: someone is looking to refinance their home. But they’re running into the hurdle of having a lot of debt (student loans, car loans, etc.). The loan officer turns them down, but refers them to someone like Mike. He provides a point agreement that pays off all of that debt, their credit score has gone up dramatically, at this point they are able to do the refinance, they get a lower rate and pay off the equity share.

Key takeaways:

• There’s never a bad time to become educated about what’s available to you, even in times of uncertainty.
• Especially if you feel uncertain, open up your mind to all of the opportunities available to you.

To purchase the Emergency Info File course, please visit:

https://www.gotittogethernow.com/eiferNowWaitlist

If you are interested in being a guest, with a story to tell, go to the website and complete the Storyteller Application. at https://legacytherapypodcast.com/getinterviewed

If you are a service professional and would like to be a guest, please complete the Industry Professional Application at https://legacytherapypodcast.com/getinterviewed

Mike’s contact information:

mlyon@point.com

925-548-5157

www.point.com