I’m on the verge of purchasing my first property in Winston-Salem, NC, and I’m reaching out to tap into the wealth of knowledge this community offers.

- Tap your equity without refinancing - YES- Pay down principal and save 8% interest - YES- Lower interest than "hard money" loans - YES- Interest-only payment if needed -YESThe negative is paying high interest from the combination of high principal and high interest %.  

The combination of rental income over the years and the appreciation on a 40K downpayment (over 500% return on cash) made it a standout investment for him.It's fantastic to see you've tapped into Peoria's growth as well.

I think I have enough cash to comfortably do 2 deals, without tapping into home equity. 

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Investors can tap into this trend by building modern homes that meet current buyer preferences, offering excellent returns through sales or rentals.Investor-Friendly MarketWith fewer regulations and lower building costs, Florence provides a smooth path for new construction projects.

yesss you'll want to run the numbers on a few different scenarios: 1. doing a cash-out refi (new loan amount, new rate), 2. doing a HELOAN to tap into your equity... and actually, 3. selling the property and doing a 1031 into a bigger asset that will cashflow better. condos (when doing LTR) rarely cashflow much if anything. find an investor-friendly loan officer that can help you figure out which path is right for you!

If you want to leave your IRA intact and avoid penalties or taxes, consider other options such as:HELOC (Home Equity Line of Credit): If you own property with sufficient equity, a HELOC can provide funds for a down payment without tapping into your IRA.Personal Loan: Depending on your credit, a personal loan may be an alternative.Seller Financing or Private Lending: Look into creative financing options for real estate investors, such as seller financing or private lenders, which can help with down payments without needing to use your IRA.

(It was sweet deal and the (ARV) I will have about 300k in equity to tap in on)

SUBSTANTIALLY.I highly recommend tapping into your equity and accumulating some more assets at these prices, you will thank yourself in 3 years.The best and most cost effective way to do so is a simple cash out refinance, I don't think you should touch your primary, but leverage your investments for sure.