985: Seeing Greene: How to Use Home Equity to Retire, Buy Rentals, or House Hack

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 July 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Should you use a HELOC to buy investment property? Would we use home equity to retire? When is it time to sell a performing property and exchange it for a more expensive one? If you’ve got home equity, this episode could help you reach financial freedom faster as we answer real listener questions, many about home equity, on today’s Seeing Greene! If you’ve been investing for a while, you may have some paid-off properties. Should you get a cash-out refinance and live off the loans? That’s what one of today’s investors is asking, but Rob and David have different views on whether this is a good retirement plan. Did your property almost get destroyed by the city this week? Rob’s did! We’ll share the full story at the start of the show. Next, an investor debates selling her performing rentals to scale into a bigger property. We also answer how to use a HELOC (home equity line of credit) to quickly grow your real estate portfolio. Why are contractors so hard to find? A veteran investor/contractor shares the reason why most contractors suddenly disappear. Finally, a listener has inherited multiple lots of land but wonders if he should build multifamily rentals on them. Can he use the lots as collateral to get the funds to start his investing journey? All that in this Seeing Greene! In This Episode We Cover How to retire using home equity and cash-out refinances (and whether you should!) Why Rob was close to having his newly-renovated home destroyed by the city When to sell a performing rental property and trade up into a better area Using a HELOC (home equity line of credit) to invest in real estate Why good contractors are so hard to find and often vanish from investors’ lives How to leverage land to fund build-to-rent investment properties And So Much More! (00:00) Intro (01:06) The City is Destroying My Property! (06:12) How to Retire with Home Equity (13:00) Sell Rentals for House Hack? (18:45) How to Use a HELOC to Invest (26:04) Comment Section Callout (28:47) Contractor’s Advice for Investors (35:46) Build Multifamily on Inherited Lots? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-985 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pocket Podcast Show 985.
0:05.0	What's going on everybody? Welcome to Seeing Green.
0:08.0	I'm your host David Green and if you are listening to this podcast, you are part of the
0:12.0	growing and thriving BP community
0:14.0	this is the show where we get to connect with community members like you directly
0:17.6	answering listener questions that everyone can learn from and I brought some
0:21.9	help joining me today is the man, the myth, the legend,
0:26.2	Rob Abbasolo.
0:27.2	How are you, Rob?
0:28.0	Ahoy, I'm back in America.
0:30.3	We're in the same time zone once again
0:32.3	and it is beautiful to not be doing this
0:34.2	podcast at 11 p.m. That's right Rob does not have to be recording at midnight and
0:39.2	we are both in our offices locked loaded and ready to bring you the best podcast out there on the
0:45.8	interwebs.
0:46.8	In today's show, we get into Contractor Tips, How to Trade Equity for a House Hack,
0:51.5	one of the best comments that we've ever had on this show, as well as what to do when the city threatens to tear your house down, and you have only two days to solve that problem.
1:02.0	All that and more in a stellar episode of
1:04.3	seeing green. Now let's hop in. All right our first question of the show comes
1:09.2	from no name here. It's a gentleman that looks like a mix of Antonio Bandaris and
1:14.5	Jason Momaa sir welcome to seeing green how can I help you today
1:19.2	hey David long-time listener first-time caller.
	...

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