Afford Anything cover image

Afford Anything

Ask Paula: Feeling FOMO About Your Home Equity? Here's What to Do

Nov 1, 2023
Lindy wants to better use her $300,000 equity without buying more real estate. Katie is concerned about redlining as she considers becoming a landlord. Claudia, from Germany, lacks knowledge about US real estate but wants to buy an apartment in Manhattan. The hosts tackle these questions and discuss options for utilizing home equity, the pros and cons of Section 8, the importance of local involvement, and advice on buying property abroad.
49:30

Podcast summary created with Snipd AI

Quick takeaways

  • Maximize home equity through fix and flips or expanding/starting a business.
  • Research Section 8 program guidelines and consult experts before participating as a landlord.

Deep dives

Maximizing Equity: Making Your Money Work for You

Lindy is concerned about the equity in her rental property and wants to explore options for generating more income from it. She has a significant amount of equity in the property and is eager to put it to work. One suggestion is to consider leveraging the equity to invest in other opportunities, such as fix and flips or purchasing additional rental properties. However, it's important to consider the level of risk involved, the potential return on investment, and Lindy's personal preferences and experience. Flipping properties can be profitable, but it requires significant time, effort, and expertise. Another option is to use the equity to expand an existing business or invest in a new business venture. This could provide a higher return if done strategically. Ultimately, Lindy needs to carefully evaluate her goals, risk tolerance, and investment options to determine the best use of her home equity.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode