Is it better to use my equity or find a lender.

[Rudy Nieves]

I currently live in Jacksonville FL I bought my first house hack in December of 2021. I'm currently planning for my second property out of state in my home town of Cleveland OH. I'm wondering if I should use my own equity for the next property or find a lender and use my equity as leverage if anything falls through with the property. so I don't need use a HELOC right away.

[Ashley Cross]

It truly depends on your goals and risk tolerance. I believe its important to be diversified (invest in different markets and different grade neighborhoods) and ensure you cash flow for all of your properties. Cleveland is a great place to cash flow in Ohio but there is also risk associated with those types of property. Before rates went through the roof I would say use debt all the time but given those Cleveland properties are much more affordable it may better to pay cash and refinance when you can get a better rate.