Thanks RRs! 👍 1. Totally agree that a primary residence is an appreciating asset. 2. Appreciating assets build equity. 3. Equity that can be used for collateral for a loan to acquire & rehab rental properties. 4. Years ago, I TOTALLY used a $100K HELOC on my primary residence to begin my journey of very successful REI acquisitions to this day.
@kerrybaird7397 ай бұрын
I have bought 3 dozen houses and never heard of an Evergreen loan! I love learning from you both.
@TJ-th9hw7 ай бұрын
Great answers to many great questions. Much appreciated! Thanks so much!!
@richardjudge23227 ай бұрын
Thank You Tony and Ashley
@assuranceizevbizua66097 ай бұрын
Good deal. Thank you guys.
@adrianwooten68487 ай бұрын
How long must you be on your current job to get approved for a Heloc?
@theresamcgallicher6 ай бұрын
I thought you were not allowed to borrow money for a down payment? How can you use a line of credit in that way?
@denniscobos33064 ай бұрын
HELOC lenders don't necessarily have to know what the purpose is for borrowing the money. Once the line of credit has been granted, the borrower can take out as much as they need and use it as they please.
@jaguardrywall79657 ай бұрын
Please educate me as to how a primary home is an asset if it takes money every month to keep it running. It does not make me any money like an investment property would. Thank you for your time
@tedhren-jb1jc7 ай бұрын
I purchased my home 9 years ago for $119,000 it is now worth $309,000 I owe $80,000 the spread 309- 80=$229,000 that I can now use to buy multiple properties rent them out have tenants pay the mortgages and wait for more appreciation. see first home scenario.
@andresserrano56837 ай бұрын
You must think of it from an idea of net worth aspect. Your physically paying the same fixed rate mortgage every month as your house increases in value.