What to do with the equity in your home?

[Bladimir Angeli]

Hi BP, first time blogger. Like a lot people here we are looking for financial freedom. We have always had an interest in buying rental properties to replace our income & to be our retirement income when that time comes, but never jumped that hurtle. We are in our early 40's, with kids & feel like we are off to a very late start.

Before discovering BP's, we wanted between 6 & 8 multi-family rentals with 2 to 4 doors each. The goal was/is to replace our income in retirement & hand one property to each one of our kids when we passaway. We have 6 kids by the way. But since listening to the many podcasts it's changed our way of thinking like so many who started with the same goal.

Our home in California has about 240K in equity & we really dont know what to do with it. We know we need to get the ball rolling in something if we want to meet or exceed our rental properties goals.

We welcome, appreciate, & are thankful for all advice shared & given.

[Brock Mogensen]

I would recommend doing a cash out refinance on your home and investing the money into a cash flowing multifamily asset.  Now is a great time to refinance with the record low interest rates.