Investor · Wilmington, DE · Member since 2013 · 394 posts · 123 votes
How do you like to shield the equity in your property? I have used a HELOC on a property that has 50% equity, but was wondering what other ways landlords have used. I’m not sure that, at this stage in my investing career, having a ton of equity is very valuable. Do others use liens as a shield?
Investor · Wilmington, DE · Member since 2013 · 394 posts · 123 votes
8y
@Ali Boone.....I;m just looking for ways for a money hungry atty to go after assets for something minimal. I carry plenty of insurance, but thought that if they look into the property and see it's 90% leveraged they would be less interested.
@Ali Boone.....I;m just looking for ways for a money hungry atty to go after assets for something minimal. I carry plenty of insurance, but thought that if they look into the property and see it's 90% leveraged they would be less interested.
Umbrella insurance is super-cheap and covers liability. Would there be a way for them to see it's 90% leveraged? Fortunately I can say I have no idea how people focused on suing decide if someone or something is worth their time or not.
The big thing I do, which seems contrary to a lot of people on here, is I don't tell people how many properties I own. I'm asked quite a bit, but I stay pretty vague about it. I don't want anyone to know if I'm worth going after or not ;)
Parsippany, NJ · Member since 2016 · 64 posts · 49 votes
8y
@Eric Armstrong
You nailed it. ELOC or Refi. If your rate is good and you dont want to extend term, just stick with ELOC.
Or sell and 1031 into bigger.