Can I use equity to buy another house? - I explain

Can I use equity to buy another house? - I explain
If you have enough equity in your current home, you can use the money from a home equity loan to make a down payment on another home—or even buy another home outright without a mortgage.

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Michelle Grant
Real Estate in Connecticut
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[ninerzulu]

I wouldn't use a Heloc to purchase an investment home unless it's a quick flip. I'd use a home equity loan. Unless you were referring to flipping. I don't think alot of people understand the difference

[beebaa-lhgw]

Ok so say I bought a property, fixed it up and the property value increased by 60-75% of what I put into the renovations. Will that apply to the HELOC immediately or is their a waiting period before that carries over? Also say I used the HELOC to purchase another investment property once approved could I repeat the process an unlimited amount of times? Would it end up paying for it's self and how much funds would one realistically have to have to get to that point? Now if all this is possible would it become profitable or just a way to make your money appreciate in value over time? Now this is going a little off track but say the value of a specific property increased drastically due to surrounding changes and I wanted to sell a property but use a 1031 exchange. Is their someone I could hire that would continue doing the 1031 exchange for me but I would it still make a small amount of profit?

[ffboqex]

Hello... I am unemployed at the moment but I want to buy an investment property with the equity in my present home in Texas... Is this possible?

[vivianoquendo]

I am interested in doing this do u know of a lendervgood for this i want to take equity to be able to purchase 2nd home but i curently have fha loan whete u have to occupy the property so how would that work when i look to buy a 2nd home andvyou also have to use that as primary home ?

[anaysagrenot]

Good afternoon! So, if that is my equity I am not able to use it to pay the rest of my mortgage?

[ahernandez]

No taxes to buy another property with equity?