Tapping into your home equity can be a great way to build your real estate portfolio. How do you know when it’s the right time to pull the equity out of a property to buy rental real estate? That’s the first question I’m answering on today’s Q&A!
On this episode of Investing in Real Estate, I’m taking three of your thoughtful questions. Today’s show covers topics like accessing home equity, selling appreciated properties, and what to look for in a property management company. Please join me for episode 777!
On this episode you’ll learn:
- What to do with untapped home equity.
- How to determine what to do with an appreciated property.
- What to look for in a property management company.
What to Do With Untapped Home Equity
I’m not a financial advisor and I can’t tell you what you should do.. but if it were me, I’d definitely take advantage of the current low interest rates! You cannot eat equity, and wealthy people build their fortunes with leverage. For me, it would be a no brainer to find a low-interest banking product that allows you to buy performing assets.
How to Determine What to Do With an Appreciated Property
In this situation, I think there’s a lot to consider. One option is to sell and buy rental properties. You could also consider utilizing a 1031 exchange (if this is an investment property). By selling this property, you could easily pick up multiple rental properties and build a healthy real estate portfolio.
What to Look for in a Property Management Company
As you know, working with a reputable property management company is one of the keys to building a successful real estate business. There are actually a lot of characteristics I look for in a property management team. In fact, I have an entire video on screening property management companies. As a quick summary, I like to make sure they’ve been in business at least five years, I care about their communication skills and methods, and how they screen and treat tenants. I’d also suggest checking out my recent video, Behind the Scenes with Our Property Management Company.
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Episode Resources
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How to Find a Property Management Company: 5 Tips
Behind the Scenes with Our Property Management Team
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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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