New member from Encinitas,CA with a question on financing
Hello all,
I discovered this site a few weeks ago and have been devouring the content since. I have a good job that I love, but which allows me some extra time to dedicate to other interests. I live in a town where vacation rentals are quite popular and I am interested in getting a few over the next few years. I do have some starting capital but not enough to make a move yet I have several hundred thousand in equity in my current house and was thinking about tapping into some of that reserve to acquire my first investment.
What kind of advice do people have about using equity from a primary residence vs just waiting (maybe 2 years) to simply save the capital?