Has anybody used rent to retirement? What was your experience?
My name is Zach Lemaster (owner of RTR). There is a ton of discussion already on this topic going back years. I've pasted some links below that might be helpful in answering your question. Feel free to reach out with any specific questions you have at any point in time!
can you borrow against the equity on these properties like you normally would on properties in your local market?
Very nice to meet you Jimmy & thanks for the question. The answer is yes. If the property has equity you can access it via a HELOC or cash out refi regardless of the property location. This is a common strategy that many of our investors follow is to grow equity in a property through appreciation & debt reduction over time, and then usually within a few years you can either sell the asset to reinvest via a 1031 exchange, or access the equity to use as a downpayment on more rentals. It's all about scalability over time! You do need to have a good lender in place that can offer decent terms on rentals, which we have plenty of recommendations of lenders. Please let me know if I adequately answered your question, and if you have any other questions I can address.
Thanks Zach. We will be in touch