Using equity for future purchases.
Hey Everyone.
My wife and I started purchasing homes when the market down in 2009. Over the next 3 years we bought around 25 homes. We kept purchase prices down by buying homes with good bones but needed work. I am a chemical plant inspector, and worked on my homes on my off time. We sold some homes when the area of booming or when I needed to free up money for more purchases. Right now we have 20 homes and I am happy to say that we paid off our last home in August. This is the first time we have really been able to relax and enjoy our hard work. My lawyer is also an investor but he buys office buildings, and it trying to steer me in that direction. I think office buildings will be the next direction I take the company but want to make sure I build the right team to select a profitable building. I would like to use a portion of the equity from my homes as a down payment for my next investment. I was wondering is anyone had any experience in this, or could offer and advice on this topic.
Godspeed.