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From: John M
Hello to all.
I am a newcomer to the investing scene and i was wandering if those of you with some experience could help me get my head around a burning question i have?
I'm currently looking around my local area at investing in some property gathering knowledge of my own backyard and trying to build some confidence with what i learn as i go, but i have hit a stumbling block.
Well here it is as best as i can explain it. I purchased my home 5 years ago and now have about 50k equity in it.Its worth 150k.
What i am wandering is am i better off using that equity to invest in property or sell my home to an investor and rent it back off them. Use the cash from the sale to pay off outstanding debts and with what is leftover use that cash to invest.
If anyone has any ideas on this and or the advantages/disadvantages i would greatly appreciate to hear from you.
Looking forward to reading some of your replies,
Thanks John
Hello to all.
I am a newcomer to the investing scene and i was wandering if those of you with some experience could help me get my head around a burning question i have?
I'm currently looking around my local area at investing in some property gathering knowledge of my own backyard and trying to build some confidence with what i learn as i go, but i have hit a stumbling block.
Well here it is as best as i can explain it. I purchased my home 5 years ago and now have about 50k equity in it.Its worth 150k.
What i am wandering is am i better off using that equity to invest in property or sell my home to an investor and rent it back off them. Use the cash from the sale to pay off outstanding debts and with what is leftover use that cash to invest.
If anyone has any ideas on this and or the advantages/disadvantages i would greatly appreciate to hear from you.
Looking forward to reading some of your replies,
Thanks John
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