How Do I Use the Equity in My Rental Property? |
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If youโve got a stable and profitable rental property, how can you access the equity to grow your portfolio?
โAsk me a 30-second question at https://morrisinvest.com/clayton ๐ต Looking for 0% interest real estate funding? Get $500 off your signup fee by using my link: https://morrisinvest.com/funding ๐ Ready to buy your first fully done for you rental property? Book a free call with us: https://morrisinvest.com ๐บ Watch Next: How to Create Your Personalized Path to Financial Freedom: https://bit.ly/392kAsB ๐ What's Your Freedom Number? Download our free PDF to help you determine how many rental properties you would need to achieve financial freedom: https://morrisinvest.com/freedom ๐ต Ready to get your finances in order? Download the FREE 90-Day Financial Empowerment Bootcamp: https://morrisinvest.com/bootcamp ๐ Want to learn more about creating your individualized plan to wealth with a proven system? Join us in Financial Freedom Academy: https://financialfreedomacademy.com BRRRR Real Estate Strategy: http://bit.ly/2RjYqf0 3 Ways to Improve Your Credit Score with Wayne Sanford: http://bit.ly/2TEApP9 Is a Cost Segregation Study Worth It?: https://bit.ly/3aTJsUo ----------------- If youโve got a stable and profitable rental property, how can you access the equity to grow your portfolio? Should you look into a HELOC or cash-out refinance, and how do you get the process started? Thatโs our first question on this Q&A video! Iโm answering three listener questions about utilizing equity on a rental property, buying investments on credit, and calculating a cash-on-cash return. If you want to hear my advice and experience, this video is for you. How to Utilize the Equity in a Rental Property If you have an existing cash-flowing rental property and want to take advantage of your equity, look into a cash out refinance. You might have to search high and low for lenders that are willing to work with you on an investment property. However, it is certainly possible (and worth it). Ultimately you should consider a cash out refinance, pull out that equity, and use it as a down payment to buy your next profitable investment. How to Use Credit to Buy a Real Estate Investment In my experience, the best way to use credit to buy real estate is to work with Fund&Grow. Fund&Grow helps their clients secure business lines of credit for an introductory rate of 0%. Think of using credit as another tool in your financial tool belt. For many investors, this is a great way to get started. Then, you can refinance the property before the introductory interest rate expires. Save $500 off your signup fee by visiting morrisinvest.com/funding. What to Look for in a Cash-on-Cash Return Remember with finances, there is not a one-size-fits-all model. When it comes to returns, you might have different standards from other investors. However, I implore you to compare your investments to any existing savings accounts or stocks. Also remember that there is no better tax vehicle than real estate. At our company, on the low end you can expect an 8% net cash-on-cash return. ----------------- 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. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals. |