How to Buy a Second Home

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The value of your townhouse on the home by $100,000 in the last three years. Add it to some cash that you've got from savings and use that combined to make a down payment on your next home. Or should you leave the equity alone and wait a bit longer? A couple of things come to mind right away.

#455: Yvette recently retired with the goal of reaching a $10,000 monthly income from her real estate investments. Should she put her money toward debt payoff or portfolio expansion?

Carly wants to buy a second home and convert her current home to a rental. What are the pros and cons of tapping into existing equity versus saving cash for a down payment?

An anonymous caller plans to move back to her touristy hometown in six to seven years. Is it smart to buy something now and take advantage of a thriving Airbnb market?

I tackle these three questions in today’s episode.

Enjoy!

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