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Updated over 2 years ago on . Most recent reply

User Stats

14
Posts
8
Votes
Jamy Lomento
  • New Jersey
8
Votes |
14
Posts

Best Way to Leverage Primary Home to Fund Purchase

Jamy Lomento
  • New Jersey
Posted

Hi - 

Very new to real estate investment and spending my time learning. Here's my current situation:

-  Eyeing retirement in 2+ years

- Own my current home for 20 years

- Refinanced last year @ 2.05% for 10 years - did not take out cash

- Have about $90-100k in equity

Here are the options I'm thinking about and want to understand what might work best:

1 - sell home and use proceeds to buy a single-family rental home

2 - stay in the home, take out HELOC and buy a single-family rental home

3 - sell home and use proceeds to buy short term rental (vacation, Airbnb) to use and rent

Thanks!

Jamy

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