Does it makes sense to use your homes equity and invest in Real Estate?
Basically you can do this with either a cash out refinance or a home equity line of credit
If you have a low rate on your mortgage already then a home equity line will most likely be the best route
But essentially once you see your cash out or equity line options, look at how much the new payment will be, and factor that increased payment into the overall expenses
For example: Home Equity Payment= 300 per month
Investment property Mortgage payment = 1500 per month
Repairs, Vacancies, Property Management, Cap Ex, Maintenance, All expenses = 700 per mo
That’s a total expense of 2500
Total rents 2900
Then I can estimate that I’m going to cash flow 400 a month, but again because I’m taking all expense including the payment on the home equity line to see if its worth it
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