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Updated about 8 years ago on . Most recent reply

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7
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1
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Larry Eaves
  • Bloomfield , Mo
1
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7
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Should I use what equity I have built up

Larry Eaves
  • Bloomfield , Mo
Posted

hey guys anouther question. I have 2 of our rentals free and clear I was wondering if it's a good idea to use that equity that we have in those houses to make the down payment for mfh looking into possibly buying our first with hopefully up to 10 or 12 units . I'm starting to feel like I'm in a rut here just kind of stuck with what we have and not moving forward very fast at all. What's going to be my best bet with this equity we in these houses

Most Popular Reply

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610
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131
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Nathan Click
  • Lender
  • Morrisville, NC
131
Votes |
610
Posts
Nathan Click
  • Lender
  • Morrisville, NC
Replied

@Larry Eaves Always leverage when possible. You can roll that equity into a down payment on a new asset (or new assets). Combining the equity with a loan will maximize your buying power and your ROI. Now rather than losing money by having the equity sitting in the property you have converted it into a revenue generating function AND you are utilizing debt to to generate revenue as well, without decreasing your cash position. Its a win-win! The next question to ask is how do I pull this off and get this most for my trouble.

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