Should you use your HELOC to invest or use your cash instead? Is investing in a mobile home park a solid investment? Should you pay off IRS debt or buy a rental property? I’m answering these three great questions on today’s show!
On this episode of Investing in Real Estate, I’m answering three of your thoughtful questions on various investing topics. As always, I value your calls and I hope you find my answers helpful on your investing journey. Please join me for this Q&A episode!
On this episode you’ll learn:
- How to decide between using home equity or cash to invest.
- What you should consider about building a trailer park.
- How to determine if you should pay off IRS debt or buy a rental property.
How to Decide Between Using Home Equity or Cash to Invest
At our company, we always encourage our investors to keep some of their cash reserves. Especially right now when financing rates are ultra low, it’s a great time to take advantage of financing. I always say you can’t eat equity! Instead, put your home equity to work. Particularly in this scenario when you’ve already taken out a HELOC, that’s the route I would take.
What You Should Consider About Building a Trailer Park
I’ve done multiple interviews with mobile home park experts, linked here and here. My understanding is that investing in a trailer park can be very profitable, and it’s certainly desirable since typically the investor owns the land and leases it out to individual mobile home owners. However, it’s important to note that in many areas, new mobile home parks are not being zoned. I would suggest looking into this first and ensure that your lending partner has experience in this niche.
How to Determine If You Should Pay off IRS Debt or Buy a Rental Property
If the IRS is letting you know that you owe them money, that should certainly be your priority. However, if you’ve been able to set up a payment plan with them, I don’t think it’s a bad idea to buy a rental property! Just be sure you run your numbers and find a deal that can help you pay off that IRS debt faster.
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Episode Resources
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Don’t Believe the Hype Around Mobile Home Parks with Ryan Narus – Episode 602
Overcoming Financial Ruin to Build a Mobile Home Park Empire with Kevin Bupp – Episode 296
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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