New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 9 years ago,
Newbie from Massachusetts
Hi everyone,
My name is Vy. Recently, an idea just came to me that I should take out home equity loan to invest in a rental property. I've always thought of equity loan as a taboo kind of thing but for some reason, I feel like it is the right choice for me right now. I can take out $67,000 from my main residence property. My question is: should I find a place near Boston areas or a place near Umass Lowell. I'm leaning toward Lowell area as I will probably find cheaper property, hence less risky as a new investor. Any advices or inputs will be much appreciated.
Thanks
Vy