OfflineI have a question for the DG Family. I looking to pull out hundred thousand of equity from my house, and would like your opinion on what I should do with this money. I know the first thing everyone is going to say is to invest it into R.E.There are a couple things i was think to do with this money, was to be a private lender.The second on of course is to buy R.E., but California is so expensive.
Please help me with Idea's, and what you might do with this money was yours.
Thank you.
Richard
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Richard Armendariz
Hello,
We are here to help with your re investing ideas/questions; however, your tax expert or your accountant can give you a more personal in depth scenario of the overall impact of going through with your idea.
In response to another one of your posts concerning properties being expensive, choose a city close to you (or far away if you are willing to set up a team), then invest in properties that you consider affordable and manageable. With your equity in hand, you could probably by starter homes on the eastern side of the country, then rent them out to grow your money back.
Be very creative, because real estate has many facets. Imagination creates the magic in our lives!!!
Good Luck and much success,
Anthony
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https://tvallc.isrefer.com/go/RehabLite/Adavis/
CPA may be the place to ask. Also read tony Robbins book called "MOney Master the game," before you do anything would be my advice, and there is also a new book out by Salvatore M. Buscemi called "Making the Yield" if you indeed want to be the bank!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
If you decide to pull out the equity, remember that you are putting your personal residence up for equity to finance an investment opportunity. If things go sour, you could lose your house and have to start all over.
That being said, regardless of where you put your money, you will want to make sure that it makes more than the interest rate of the loan plus the rate of inflation. Anything less than that (all totaled with expenses, closing costs etc) and you will be losing money.