The decision to take equity out of my house or not.
Hello BP world,
I wanted to reach out to the community to see if someone could lead me into the right direction. I am getting closer and closer to my first purchase, of a rental property, and i wanted to know some opinions on whether or not i should take equity out of my current home. I don't know the full details about equity, but i will be looking it up very shortly. I have remodeled my current 2 bed 1 bath home and will need an appraiser to come out and see what the new value is, but I'm not sure what the equity would be or how it affects the interest.
If anyone has some tips or opinions I would truly appreciate it!