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Updated almost 7 years ago on .
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Living Trust and pulling out a loan on a house that is paid off
Hello BP family!
I have come to an understanding that I need to get my assets in a "Living Trust". Before I get it started I wanted to get my real estate investing plan in place so I can mitigate the problems before they happen.
With my house being paid off in Southern California I have a pretty good opportunity to borrow from it. I was wondering what your thoughts would be on taking a loan out on my house that I live in and buying rental properties? Should I put my house in a Living trust before??? after??? I were to borrow from it? Or is there a better way for me to go about this? I also work full time as a Union Electrician and make pretty a pretty good income to cover some as well.
Thank you for all your wisdom I cant wait to read all your replies.
Sincerely ,
Mathew