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Updated over 4 years ago on . Most recent reply
What to do with $80,000 in home EQUITY?!
Hello fellow Bigger Pockets enthusiasts!
My wife and I have flipped a few houses with exciting success and we are now wanting to start our venture into rental properties. We just finished the house we are currently living in and got it appraised. We have created $80,000 in equity and would like to use it wisely! Our thoughts are to take out a Home Equity Loan and HOPEFULLY (if we play our cards right) buy 3 houses with it, 2 as rentals and another to flip. We then hope to use the BRRRR strategy to by more rental properties. My question is this, would this be a wise way to use our funds?
Second question, how would you use $80,000 in home equity?