By: Sylvusia

Sylvusia — Thu, 26 Feb 2009 01:28:23 +0000

its a great idea… my family company does that …. we have increased our value in 10 years from 200K to 2+Million

By: Kher

Kher — Mon, 23 Feb 2009 21:11:19 +0000

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.

By: Big Daddy

Big Daddy — Mon, 23 Feb 2009 10:05:25 +0000

Equity is a fancy way to say loan, so just have to see how your loans compare to one another.

Comments on: I want to buy an investment property, Is it better to use the equity in my current home as down payment or not

By: Sylvusia

By: Kher

By: Big Daddy