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Updated almost 6 years ago,
How to convince my parents to use a HELOC
Hey BP
I could use some help trying to convince my parents investing in real estate is a smart decision. I found out they have a ton of equity in their house and could easily take out a HELOC for a downpayment on a rental property, and still keep their house with a manageable payment after the HELOC is taken out. They live in Raleigh NC which has a great college scene, a growing market, and tons of new construction. They've never invested in real estate before and are worried about losing money.
What's the best way to convince them to take a risk on the market and look for a buy and hold rental property?
Thanks!