We have a significant amount of equity in our home (primary residence)--$1m--and are thinking of using it to finance a rental/investment property (in the $500k range) to use as a retirement/vacation home in the future. Thoughts?
Its one way to do it
Be super careful. Not everyone is successful with real estate. Post numbers and get advice, first.
Thanks guys. We haven't talked to anyone yet but I happened upon this forum and decided to start a convo for advice. Planning on talking to tax guy, lender and realtor before deciding.