Hands On Real Estate Investing

If you already own residential real estate, such as your primary residence, you may be wondering how to take the next step to purchase another property. Should you save for a down payment to buy a rental property, or should you refinance your primary residence to come up with the down payment? Owning real estate is all about leverage. Your real estate equity can be used to take the next step.

For tips on using leverage to make your next real estate purchase, click here. For beginner real estate investors, it is important to realize that using leverage can be a huge advantage if you are able to service the debt on both properties. On the other hand, if you encounter financial difficulty, you could lose both properties. We would suggest making sure you have enough reserves (savings) to carry both properties for at least 6 months, just in case the tenant stops paying rent. Do your research and proceed carefully! How to get started? Click here.

 

The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.