If I buy the home during $175,000 (that is the starter home in my area) as well as put no down remuneration down, the debt would be about $1140/month regulating the seductiveness rate in my area(6.9%) when I supplement in skill taxes as well as word as well as upkeep as well as my distinction (25%), it would be about $1850/month. Who upon earth would compensate which for the 3 room 2 lavatory residence with no groundwork as well as 1/4 acre? How could any one put no income down for an investment skill as well as still lease it out for profit? FYI- the starter home in this area has left up about $40-48000 in 2 years. The area is really hot. What to do?
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- LOOKING TO INVEST IN A BUSINESS WITH SOMEONE. ANY IDEAS?
- WHERE WOULD I GO TO FIND PEOPLE WHO ARE WILLING TO INVEST INTO MY BUSINESS OR TO INVEST IN THEIR BUSINESS?
- WHAT BUSINESS CAN I INVEST FOR A 15 THOUSAND BUCKS PHILIPPINE PESO?
- WHAT INVESTOR IN THEIR RIGHT MIND IS GOING TO WANT TO INVEST IN BIG BUSINESS ANYMORE?
- HOW DO I ASK FAMILY TO INVEST IN MY BUSINESS?
- I WOULD LIKE TO START A SMALL BUSINESS OR FRANCHISE I COULD INVEST IN OR SOMETHING I COULD MAKE GOOD MONEY OFF?
- WHAT PROFITABLE BUSINESS CAN I INVEST 1MILLION NAIRA ON IN NIGERIA WITH THE ECONOMIC SITUATION AT HAND?
- WHAT IS THE BEST BUSINESS TO INVEST IN ?
- WHAT IS THE BEST HEALTH RELATED SMALL BUSINESS TO INVEST IN THESE HARD TIMES THAT MAY BE VERY REWARDING?
- I AM LOOKING FOR AN ANGLE INVESTOR WHO IS READY TO INVEST IN MY BUSINESS?
- CAN I WITHDRAW MONEY FROM MY RETIREMENT ACCOUNT TO INVEST IN MY NEW BUSINESS AND AVOID THE 10% PENALTY?
- WHY WONT THE IRS LET ME INVEST IN MY BUSINESS?
- WITH $250K WHAT CAN I INVEST IN (BESIDES REAL ESTATE, STOCKS, OR STARTING A BUSINESS)?
- HOW CAN I FIND SOMEONE TO INVEST IN MY BUSINESS?
- WHATS A GOOD BUSINESS TO INVEST 1 MILLION DOLLARS INTO WITH ALL THE CONDITIONS THE COUNTRY IS GOING THROUGH?
- HOW DO I INVEST IN A BUSINESS THAT I BELIEVE IN?
- MY FRIEND WHO IS VERY NEW TO THE COUNTRY HAS 90K AND WANTS TO INVEST IN SOME KIND OF BUSINESS. ANY RECOMMENDAT
- ONE MY FRIEND IS LOOKING FOR A PARTNER FOR HIS BUSINESS AND WANTS TO INVEST MONEY. WHAT SHOULD I EXPECT?
- I WANT TO START A COMPUTER SALES BUSINESS IN HYDERABAD, NEED DETAILS HOW TO START, HOW MUCH I HAVE TO INVEST.?
- I HAVE $30K , WHAT TYPE OF BUSINESS SHOULD I INVEST IN TOWARDS A WEALTHY FUTURE?
{ 3 comments… read them below or add one }
Equity is a fancy way to say loan, so just have to see how your loans compare to one another.
Since the interest that you pay on your “Owner Occupied” home is tax deductable (even 2nd mortgages and Home Equity Lines of credit) where investment properties (Non-Owner Occupied) interest is not, I personally think it would be better to use the equity in your current home to put money down on an investment property. Plus, putting money down on the investment propertey will most likely lower your interest rate.
BUT, with all that being said, I don’t know full details of your financial situation and strongly suggest going to your financial planner for further information. If you don’t have a financial planner, I know that Ameriprise Financial Advisors is a fantastic, safe company to deal with (formerly American Express Financial Advisors until they broke away from them last October).
Anyway, best of luck with all this.
its a great idea… my family company does that …. we have increased our value in 10 years from 200K to 2+Million