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Gary Sandler (Photo: Josh Bachman/Sun-News)

Flipping a house is easy if you have plenty of cash on hand. But what if you’re long on skills and short on greenbacks? The answer is to use what’s known in real estate industry jargon as OPM, or Other People’s Money. Using OPM to finance a flip can take many forms, a few of which will be detailed later in this piece. One method that was used by a Las Cruces resident, who we’ll refer to as Mike, was to generate cash utilizing an asset he already owned.

Mike is a government employee who was exploring ways to supplement his income by flipping houses. The asset he owned was a 2.5-acre lot behind “A” Mountain in the Soledad Canyon area. After conferring with his tax professional and Realtor, Mike put