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Toua Lee
  • Minneapolis, MN
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Options with home equity?

Toua Lee
  • Minneapolis, MN
Posted Apr 7 2015, 10:51

This is just a thought let me know what you guys think. Not even sure if it can work. So if you know or have used this already please feel free to give your advises. 

I have about 130k available on equity with my current house i'm living in. I have a home that i'm very interested int purchasing right now, a duplex that can probably bring in 1,600-1,800. I can use the equity on my house to make this purchase and all the rent will be cash flow. With this route i could recoup all my investment in 5 years. 

Or should I use the equity on my house to make down-payments and purchase multiple duplexes.  i'm not sure how the numbers will look but if i can purchased 3-4 duplex i can come out better. but i'm not sure how that would work and how much cash flow if any would come out of it. 

any advise is welcome.

thanks,

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