You may agree that buying an income property is a great idea. You save up for a down payment, buy a home and rent it out. The tenants pay for your expenses, provide you with a monthly profit and, at the end of the day, you own a home and only ever had to pay for 20% of it!
There’s the catch… With the entry level of many of these homes being $750,000 or more, that requires $150,000 down payment and that can take a long time to save. We are all guilty of thinking the same thought: the rich get richer! And so, while the idea sounds great, it is out of reach for many.
Or is it? What many people don’t realize is that if you have been in your home for a few years, you may be able to have your home appraised, refinance and pull out that $150,000 for the down payment. And, if you purchase the right property, like Geoffrey did, you will still turn a monthly profit even after paying the monthly mortgage cost for that borrowed down payment. Now, you can grow wealth just as the rich do!!!
Watch the video below and contact us via the form on this page to sit down and see how you can do the same.