Updated about 3 years ago on . Most recent reply
Should I get a reverse mortgage to utilize equity to invest?
The person I know is 76, he has $300k of equity in his property and wants to stop working.
My thought process is if he gets a reverse mortgage lump sum, he can invest that money into cash flowing multifamily, and can live off of the cash flow and when he dies the investment can be used/sold to pay off the reverse mortgage.
What are your thoughts on this? I'm searching for the best way to utilize his equity so he can stop working.