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Updated almost 3 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Arthur Hughes
  • New to Real Estate
  • Los Angeles, Detroit MI
2
Votes |
11
Posts

Purchased my first property

Arthur Hughes
  • New to Real Estate
  • Los Angeles, Detroit MI
Posted

I recently purchased my first property in Saginaw, Michigan...yes I know, LOL. However, this purchased was not for an investment as for more to get a place for my mother to watch over my grandmother as she begins to mature, as she puts it. Since oil and water does not mix, it was better for me to purchase a home than to add an addition to my grandmother's home with intent of my mother residing with my grandmother....sorry but let me get to the point.

I now own a home free and clear, single family, 3 bedrooms, 1 bath, 960 sqft. with an attached garage, semi-finished basement for 75K. I'm looking to now leverage this property to start my Real Estate journey, scale and grow, My question is: should I get a mortgage or apply for a HELOCK to pull some equity and start my journey in investing?

Thanks Art

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