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Updated almost 7 years ago on . Most recent reply
To Leverage or not to leverage?
I have a condo in SF with about 40% LTV. Its currently rented out. I'd like to refi and pull money out to purchase the commercial unit below it. How much should I pull out? I can go up to 60% and still take a chunk of change out, but my mortgage will be higher than my income. Should I disregard if Im re-investing? The income from the commercial unit will cover more than cover the increase in mortgage...
Most Popular Reply
Originally posted by @Melissa Lee:
I have a condo in SF with about 40% LTV. Its currently rented out. I'd like to refi and pull money out to purchase the commercial unit below it. How much should I pull out? I can go up to 60% and still take a chunk of change out, but my mortgage will be higher than my income. Should I disregard if Im re-investing? The income from the commercial unit will cover more than cover the increase in mortgage...
I know that the only way to achieve my financial goals are through leverage. It is impossible to get wealthy without leveraging other peoples time, talent, or money.
I am always re-evaluating my portfolio to pull money out and re-invest. Just my opinion.