Updated about 7 years ago on . Most recent reply
Home equity questions
The home we live in has appreciated significantly since we bought it 4 years ago. At 85% of our ltv we would have just over $80k to work with. I am actively looking for my first real estate investment opportunity but have no cash and nothing extra to be able to carry any monthly payments. Is it a good idea to leverage the equity in our home to get started? Pros and cons?
- Taylor Colwell
Most Popular Reply
Hello and welcome,
It depends on your willingness to risk. Can you afford the larger mortgage payment? Are you willing to work for it. If so then get a HELOC and start owning rentals.