Rental property for additional income

2 Replies

Hello all. I am a registered nurse who works full time. I currently own a home for 4 yrs, but considering purchasing a two or 3 family for rental purposes. Should I consider putting in some equity in my current home to assist with down payment or use my savings. I live in Connecticut.

@Alderine Pollard welcome to BP I see this is your first post. 

This is a personal decision. By borrowing against your home you are putting your home at risk. Are you comfortable with that risk?  

How much risk are you taking? That depends on how good a deal you want to invest in. I would not invest in a weak deal with high risk with my home equity.  I would jump at the chance to invest my home equity in a low risk but higher return deal.