How to take advantage of $100,000 home equity?
Hello brilliant investing minds,
I have an interesting scenario for you. Say you have a home that you are given free and clear that is paid off and is valued around $100,000. But here is the catch. You are given this home by a relative, and the relative wants to continue living in the home. What is the safest way to tap into the equity of the home for a secure, relatively liquid investment in which the relative's housing is not put at risk and where an equity loan could easily be paid off and the house be sold if necessary? Note: I assume that in the case of a home equity loan the ROI would have to regularly exceed interest payments.