If you have multiple paid-off rental properties, what’s the best way to use the equity and build your portfolio? That’s the first question I’m answering on this Q&A episode of Investing in Real Estate! Before we get to your questions, I’ll be giving a rundown on the future of the housing market, including what to expect in the home buying space.
I’ll also answer listener questions on topics like loan forgiveness and how to invest without being eligible for a traditional loan. This episode is packed with insights on how to grow your portfolio, improve your credit score, and much more! Click play to hear my answers to your questions.
On this episode you’ll learn:
- What to do with the equity in rental properties.
- How to learn more about loan forgiveness.
- Ideas for investing without a steady income.
- And more!
What to Do with the Equity in Rental Properties
I’m usually a proponent of utilizing your equity when possible, but of course this is going to depend on a few factors. Here are a few questions to ask yourself:
- What are your goals?
- What type of cash flow are you wanting to achieve?
- How would an equity-based loan impact your credit score or debt-to-income ratio?
- Where are you in the three stages of real estate investing?
If you would like to grow your portfolio further, I think tapping into that equity via home equity lines of credit can be a great strategy!
How to Learn More About Loan Forgiveness
This is going to depend on your loan type and your banker. I’d suggest meeting with your lender first to see if they can make any arrangements with you. You can also consider speaking with an attorney or a credit specialist. I would also recommend checking out these two episodes I recorded with Wayne the Credit Guy:
Ideas for Investing without a Steady Income
If you can’t prove a steady income, it could be difficult to attain traditional financing. In this specific scenario, I’d suggest scheduling a free call with my team to chat about your options. Non-recourse lending might be a viable route. Using money that’s sitting in a savings account can be a great way to increase your returns and monthly cash flow.
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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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