Want to know how to use your home equity to buy your next rental? You could be sitting on tens of thousands in potential funds that’ll make saving for the down payment MUCH easier. But first, you’ll need to know how much equity you have, the amount you can pull out, and whether or not a HELOC (home equity line of credit) is even worth it. So, if you’re itching to get your next deal faster, stick around! Ashley and Tony will give you the info you need to take your money and multiply it!
Welcome back to this week’s Rookie Reply, where Tony wears a hat! Aside from covering up that beautiful bald head, Tony and Ashley have some solid tips for anyone looking to buy a property with tenants in place, debating the value of a whole house HVAC system (heating, ventilation, and air conditioning), or putting up the pros and cons of private lenders vs. bank loans. You’ll learn the many ways to cool your house, how to confirm rent payments before you buy a home with inherited tenants, and how to make passive income by private lending!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover
HELOCs (home equity lines of credit) and using one to buy your next property
HVAC systems vs. window units and which demand higher rent prices
How to make completely passive income by becoming a private money lender
Raising capital vs. taking a bank loan and why big investors ALWAYS raise money
How to confirm rent payments BEFORE you buy a property with tenants in place
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Sign Up for BiggerPockets Pro to Get Lawyer-Approved Lease Agreements:
BP Pro
Lease Agreements
Connect with Other Investors on the BiggerPockets Forums
Submit Your Real Estate Rookie Question!
How to Buy a Rental Property with NO Money OR Credit w/Pace Morby
Follow Rachel Richards (MoneyHoneyRachel) on Instagram
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-290
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