Updated over 9 years ago on . Most recent reply
How do I get my wife on board
Hi I'm a newbie to the business I'm looking to purchase my first property (buy and hold) I'm pre-approved for $100k mortgage. I don't have enough money for a down payment so I would have to use a home equity loan on my primary home. At first my wife was on board now she's having cold feet with using the home equity. I'm not planning on buying anything over $80k.
How do I get her on board?
Should I even bother using an home equity loan?
Most Popular Reply
Jeffrey Vandagriff
- Shipping Container Sales, Infrequent Real Estate Investor
- Van Buren, AR
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Hey Tony! I can't say if you should use a HELOC or not, but I can tell you that you should put all the hard numbers into the BiggerPockets calculators and print off the PDF reports. This helps tremendously when trying to show someone that "this is a great deal." Create reports for several different exit strategies and show her that there are different ways out if plan A doesn't work out. Good luck buddy.