How To Use Equity To Buy Investment Property | Property Investing | Mortgage Finance / Refinance
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- Опубликовано: 17 окт 2024
- How to use equity finance (Refinance) to buy investment property
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Equity is the difference between what your property is worth MINUS your mortgage and in today's, I talk through how you can use that equity to buy investment property (Real Estate).
If you want to learn how to invest in property, or if you want to build a property portfolio of you own, be sure to download the above property investing checklist, because in there I give you a detailed list of everything I think you need to consider BEFORE buying that first investment property.
You are also welcome to download my FREE list of every property related website tool and app you'll need in your property business here: goo.gl/qtvdQb
If you're thinking of releasing the equity from your property to buy an investment property, I would love to hear from you in the comments section below
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Here's to your success... Tony Law | Your First Four Houses
Many years later I'm one of your long term Tenants whom put a roof over are head still with you .wish I had your advice 15years ago could still have been in my own home
This is what I call content! Love the vids, very descriptive, especially with the visual examples!
Thanks so much 😃
Hi Tony,
I have just found what I was looking for and that is a better explanation of how to release equity and purchase another property. I have subscribed and will be following your channel. Keep up the good work. Very informative. 🙏🙏👍👍
Thank you 😊
Fantastic video. I bought a property this year for 165000 as a residential property. My first property. Now I have a family and want to get a bigger space. Currently I have a savings of 20,000. Please advise
Well first off - congratulations 😃
I’m always happy to help if you want to discuss this. I offer 45min coaching calls and so if this is of interest please click here for more details… www.yourfirstfourhouses.com/coaching
Thank you for sharing your knowledge to teach us. Very useful and clear. 👌🏻 Thanks. Juan.
My pleasure - and thank you for your kind words 😊
Very helpful! Do you provide 1-1 training?
Hi Rosie - I do indeed 😊
Great video but surely there's a mistake in your example. If you remortgage 75% LTV (225,000) the remainder is 75,000. Minus your original 20,000 deposit from the first mortgage leaves you with 55,000 of additional equity not 45,000? Please correct me if I'm wrong
I cant take out any equity until 2028 without paying a £3400 early repayment charge , so instead my bank have said I can do additional borrowing to get 30k for a buy to let property. Do you think this is a wise move on my part?
It's a great question Duggy, but unfortunately it's not one I'm allowed to answer. Can I suggest speaking to a mortgage broker.
Informative, clear, useful, great content!
Much appreciated!
wonderful video about this chapter , thanks for sharing great information
Great content Tony. I am 23 years old currently in my final year of University but I am quickly realizing the degree I am doing is not the field in which I want to go in to when I graduate. I am swaying more towards Real Estate investment and taking my time learning what it takes to be successful in this field. I also watched your video where you stated in should only take someone 4 right properties to be financially stable which has motivated me even more. I have watched a number of your videos and they are very helpful! keep them coming as they are truly appreciated.
Many thanks,
Adriano
+Addy13Gangs ... Thank you for your message and kind words, they are greatly appreciated. I am sure your situation will resonate with a lot of 23 year olds.
I wish you every success moving forwards 😃
The videos are very well presented and easy to understand.
Thank you Luxus 😊
If you're in your final year I wouldn't say "quickly"
Hey man, its been 2 years! Im currently 23 at this time and I wanted to know your progress! I'm going head strong into this. Currently Active Duty Air Force so I have an advantage of using the VA loan with getting started.
This was exactly what I was looking for. The process explained step by step. What an awesome video man! Great content!
Thank you so much 😃
Very educative and informative
Thank you very much 😊
I brought my first home with I believe £10,000 and help to buy scheme at a price of £194,000. From the research, I'd suspect the house is now worth £220,000 - £230,000.
Does help to buy change anything or am I correct in saying that using the example of £220,000 now valued, I'd have £36,000 equity?
Just found your channel and been through a handful of videos already. I think I will be booking a call as soon as viably possible to get you to coach me through my property journey!
I'd be happy to help Lee 😃
This guy is good explained the best way posible
Thanks so much 😃
Great video it is something I am considering but I guess I am risk adverse and would worry about taking these first steps!
I completely understand Paul, the first one is the one everyone worries about.
Thank you. informative video, short and to point without the fluff.
Thank you, very much appreciated 😃
Very easy to undrestand and very informative. Keep it up sir. Thanks
Thank you so much! 😃
Loved your video. Great clear and easy to understand information. Lovely presentation style too. Very helpful
Thanks so much 😃
Thanks for a wonderful video. So once you buy the second property as an investment, do you end up owning the property in the end?
Thanks
Yes indeed 😊
This very intricate but informative 👌🏽
Thank you Sona 😊
Yes yes and yes - perfect content.
Very succinct and straight to the point.
Wow! Thank you so much! 😃😃😃
If i have 190k depo in a home i brought for 425k home and now is worth 500k do i need to have bigger wages to get out equity to buy another home? Or can i take out money on my house to buy another? (Like a guarantee)
Best if you speak to a mortgage broker Cali as I can’t advise you on this I’m afraid.
Regarding the example, to borrow £225,000 you would need an income well above average. For example, if your lender offered you 4x your salary you would need to be earning £56,250.
All good except how do you borrow money for the investment property if your affordability does not reach as far as that. Or how do you use your home as collateral to finance that investment property?
Best to speak to a mortgage broker as they’re the only ones who should be giving you advice on this
@@YourFirstFourHouses already did and we are on our way with it. Thank you
Hi tony im wondering if you have a video for people who are cash buyers who don’t need to have a mortgage and the pros and cons of buying with cash vs mortgage. Thanks
That's an interesting idea for a video... Let me give it some thought 😊
Thank you this video is the best I've seen mate
Thanks so much Brad 😊
hi thanks for the great video. I own joint mortgage with my wife but now she dosen't work do yo think i can still take equity out? I have been told they will go through process same like when i first took mortgage out and earning will be low to take out equity is this true or what are my options. thank you
I'm afraid I don't know. My suggestion is to speak to a mortgage broker.
really enjoy watching your content. quick quezzie.. why when in option 3 did you only take out a 75% LTV? You have paid the 180k previous mortgage so why would the bank not give you 300k and you end up with 120k after you have remortgaged? probably a daft question im new to the world of investing.
I think im a little lost with the difference between equity amount and the full loan amount. If youre able to get 75% of a 300k property how do you only end up with 45k equity? If you only get 45k how do you afford the rest of the investment property?
I Wana buy my first house for cash , with the intent and remortgage of that to buy another property , is this the right idea
I think it’s a good idea if in buying it for cash you’re able to secure a solid discount. Can I also suggest that it’s a great idea to look for places to add massive value. I wish you every success 😊
I honest to god get adrenaline watching these videos lol. Great video thank you👍
Thangs JB 😊
Hey Tony, great video. But I got a question(s)...
How is it exactly that u pull ur money out? Because although I may be getting another mortgage which will cover all costs (deposit, refurb, e.t.c), it’s still a mortgage. So wouldn’t I have to keep paying for it monthly?
I’m sure that if u have something like 10,000 left over from the mortgage, u can’t just put that into a bank account or another house right?
Hi Brandon, I appreciate this can sound complicated however can I suggest you watch the video again and it should (hopefully) make sense second time around.
Thanks for this Tony. I've got 2 years left in my 5 year fixed mortgage (15 years left on the mortgage in total). I have around £200k equity. Can I refinance this now or do I have to wait until the end of the fixed deal? I've never considered this before as I thought there were charges on the mortgage if you tried to exit the deal early.
Thank you for the question however can I please suggest you speak to an independent mortgage broker because unfortunately I can’t give direct financial advice, I am sorry.
Hi Tony, great video - just regarding the equity at 5:01 on the video - will they just pay the £45,000 straight into your bank account in cash? be great to understand how this works and what other criteria needed for this to take place as it is essentially a cash loan right? ... many thanks!
Thank you Tony, it has been really helpful including your 50 point check list.
My pleasure 😃
Great video. I have a small 3 bed with 100k equity in it. However I want to move out and rent it out as I feel the roi is good. I also want to remortage and buy my first btl? It's the capital gains and stamp duty, tax etc that puts me off? What would you do? Would you go into rented property?
That's funny... Lianna and I are considering exactly the same thing... We've decided to sell or place now the kids have moved out and then (Probably) buy a plot of land and build. I personally wouldn't be to put off by the stamp duty sting IF you're going to make big money on your next purchase. Good luck with whatever you decide 😃
i like your personality. And thanks for the initiative. But its not clear to me how and where in the UK market a 160K property can have £675 left after paying mortgage? Who are we renting the HMO to?
Hi Melody. Thank you for the question. Of course in reality this was just a generalised example designed to help people understand the basic principles involved and so naturally the numbers on a real deal in any given area will vary.
They may be higher, they may be lower.
As to "where" you could buy such a property... To be honest, at the time, I used a genuine example from one of my students and the property was based up North.
I can't recall which specific city I'm afraid, but then this is one of my older videos.
I hope that helps and I wish you every success moving forwards 😊
Recently bought my first property, but already having a vision of buying my second property to rent it out. Never knew how equity works but your video explained it very well. My question is do i get equity from the lender? And do i have to pay back that equity as well? Or they would just give it to me if i ask for it?
I am sorry if i missed anything. Just trying to learn.
Fyi i am paying repayment mortgage for my first property
My suggestion would be to watch the video again and it will hopefully make more sense the second time round. I do appreciate it can be difficult.
thanks good stuff tony - subscribed
Thank you 😃
Easy to understand! Subscribed.
Thank you 😃
Should you put a a bigger deposit if you have it or should you take some of these 5% discount deals for first time buyers
If suggest that it depends. Would this be somewhere you personally want to live or is this an investment property?
Very smart! Thanks for the lesson!
Thank you 😊
Nice explanation. Everyday with my clients, I try being as detailed as possible when giving investment explanations.
Thank you so much Angelo, 😊
Great presentation.....that shows your expertise 👍👏👏
Thank you 😃
Hi Tony.
r.e. your episode on un-mortgagable properties.
Friend of mine got a great deal on an ex council house with concrete cancer, he did a lot of research and could find no tangible evidence that concrete cancer would in reality ever be a real problem. the house it was suggested could outlive a convensional brick built house of the same era.
Because the property (in Bristol) was un-mortgagable he eventualy purhased for half the marketable value of the brick houses on the opposite side of the same street!
Wow - that sounds like a Hell of a deal to me 😊
I am starting to do this now with my two BTL’s in Scotland. Am I better going into limited company or keep in own name? I am hoping to have 4/5 small rental properties on top of my forces pension in four years time. Just looking for more free education as I wish I did this 20 years ago!
Thank you
A great question Arthur, but you should pay for some advice from a property savvy accountant.
Your First Four Houses Thank you. Booked in with tax advice next week. Then I should know where to go from there.
😊 Excellent
Buy-to-let ownership: personal or by forming a limited company? Which one is better fora beginner ?
That's a great question... But honestly... You do need to ask an accountant this because everybody is different.
Hi Sir,
I liked your video. it's amazing with super knowledge ❤
I would like to know if I have a property in which I have equity in it and would like to buy off from the lender how that worked? Could you please make a video on it or tell me how does it works? I would really appreciate it.
Thanks
Rani❤
Thanks for the suggestion Rani
I am learning so much from this channel, thank you kindly!
That is very very kind of you and GREATLY appreciated 😃
@@YourFirstFourHouses you have a wonderful presentation style. Was you a teacher
Thanks for the video!!
My pleasure 😊
So do you pay the mortgage of 180k off with the loan to value money - 225k? Which leaves you with the 45k ? Is that correct?
Sorry buddy, I can’t really add anything to the video, but having just watched it all again - everything’s explained in there.
Sorry I can’t help further.
Nice video, well presented. Nice pace, clear explanations.
Thank you :-)
Hello I’m a 39 year old guy who lives in a one bedroom apartment in Four Winds Belfast N.I. I have owned this property since Dec 2009. I was thinking recently I would like to try and purchase another property as a rental investment. Would I be able to release equity from my home yet to purchase one or would I still be considered too young? Do you have to be 55+ to be considered for it?
That's a good question Pablo. To be honest with you, the very best thing you can do is to have a conversation with an "Independent" Mortgage Broker and ask them that question.
I wish you the very best of luck with it 😃
Your First Four Houses thanks for the reply. I enjoyed the video.
Thanks Pablo 😊
Really need sone help but stock hmo or let it out to a family
I’m really happy to have a chat if you feel I can help? I offer 45 min coaching calls and so feel free to book over if you you’d like?
Www,yourfirstfourhouses.com/coaching
This is brilliant , I’m going to get the ball rolling on this !
That's great to hear Adrian 😃
Hi Tony is there any benefit for going for the additional borrowing option over remortgaging? Is the only downside having to wait for the fixed period to end but essentially they provide the same result? Or would you always recommend remortgage
To be honest Nathan, I'm not allowed to offer mortgage advice... with that said... personally is always evaluate EVERY option and see which is best at the time.
I hope that is of some help 😊
This is great but won’t I be owing more money if I refinance the house ? Instead of owing 180 I went and refinance now I owe 225k... I also would have to find $ for inspections and things like that. Did I get this right ??
Yes.
Could you not take the equity and invest it in something other than property? For example stocks.
I guess so
hi, at 5.01 could the maximum equity release be £75G rather than £45G? (300,000-225,000=75G) . Thanks for the video too
Looking to start a property investment company early next year, myself and 2 partners. Do you think around £50,000 is enough to get started? Definitely in it for the long term and not looking to be cashing anything out for about 5 years, also more than willing to put more money in on a monthly basis to help gain more equity/capital.
Hi Sunny - many thanks for commenting.
£50,000 is a good starting point - but I would suggest perhaps your focus in the early days might be to work HARD at building that investment pot. Maybe do deals where you're buying below market value... or adding (REAL) value in some way (i.e... NOT just a light redecoration). Also... (A BIG TIP HERE) document EVERYTHING to do with your first deal - including floor plans - because you can then use this information when you want to seek JV partnerships. Check out this video: ruclips.net/video/e6Y-ZW5pn18/видео.html
I hope that helps... and good luck moving forward!
All the best... Tony
Good content. What software so you use for the visuals? Thanks
Hi Fard, I use Camtasia and PremierPro 😊
Hi folks I need your help. I am currently living in my main home and want to buy a second home and put the first one one on rent.
How do I go about and do this.
Appreciate advise.
Kind regards
Happy to help. Book yourself a 45min Coaching call (£147) and we can talk it all through
Do you have any advice for someone looking to move out of parents into first house? I'm 21 and saving for a house deposit for a property that I can build equity with for a few years. Are there any videos in your collection addressed to first time buyers?
Hi Samuel - thank you for your comment - much appreciated.
I really must do something for first time buyers - that's my oversight - I am sorry.
Oddly enough - I've spent the day filming all about how to buy property WITHOUT putting any money into the deal - and I'm delighted to say that will be available around 7th September. You may find that very helpful.
Other than this... You've got to buy REALLY well. Look for places that need work - or look for places where you can add REAL - TANGIBLE value.
I how that was of some help?
Ps. I wish I'd had the intelligence to start buying at 21! You're well ahead of the game - a huge well done. 👍👍👍
This is exactly what I was looking for. A simple guide for a cautious idiot 👍 answered alot of questions I had. Thank you
Thanks Tony
Fantastic video! Many thanks
Thanks Kavan 😊
Would you advise using all of your capital on an initial house purchase Tony? It would be reflected in the house value in about a years time.. am thinking could then unlock that as equity for another purchase? Any advice?
I'm thinking of doing something very similar. Would like to hear a response!
Ummm... I think this could make an interesting video.
So... Just so I understand the question properly... Are you asking...
"Should I use all/most of my money to buy one property outright
OR
split that money between two or more properties?
@@YourFirstFourHouses Exactly! Just thinking it would be a big gamble in case of a market price drop or recession
Hi. people talk abt the UK equity releases and use it as a deposit to buy a second property … but is it not reserved for people of over 50, 55 years old?
Thank you for your question. I confess I personally don't think I've ever mentioned the phrase "Equity Release"... but I do agree Equity Release IS often used to help the older generation financially.
As you can tell... I'm not a big fan 😊
@@YourFirstFourHouses thank you for your honest view and answering my question.
My pleasure 😃
Hi Tony, The vital information that you missed communicating is the cost of borrowing and even more important the ability to pay increased monthly interest payments. Does the increased borrowing not make you venerable when interest rates increase or if house prices drop significantly?
Hi Dipak. If you re-watch it you'll note my calculations were based on a very high 6% for interest rates. This is more than double what you can actually borrow for today.
Needless to say interest rates could go higher than 6%, but in the example shared you were still make a decent profit at 6%, so there's a good buffer there.
I hope that helps you. 😊
@@YourFirstFourHouses Tony delivers, again! Thanks. I was too busy writing my resignation letter to notice the 6%. 😂
No problem at all 😃
Are independent mortgage brokers REALLY independent tho?
I think so, yes.
I so appreciate this information. Just what I needed. I did subscribe and saved this link🤗
Thanks so much 😃
Hi tony! I'm only 18 ye young right but just want to learn and see how it is! Ill be starting uni this year and was thinking of saving my student loan for the 3/4 years and maybe being able to use it as a stepping stone for a property even if its a flat or something, just wanted to ask if that would be a realist goal and do able target in this day and age of the rising of the housing market thanks!
Hi Mohammed, thank you for your message. In theory, I don't see any problems with that, but of course there's an awful lot of variables that you'd need to take into consideration.
I wish you every success moving forwards 😊
great stuff tony but at 67 where can i get financeI have some capital and a mortgage free property value around 140k
A good “independent” mortgage broker should be able to help you 😊
Great video
Thank you 😊
I have a question... if I work for a company and get a mortgage for 200k but then go self employed 1 year later earning less as I would be newly self employed... my house is now worth 230k
Can I still remortgage is for 230k with my lesser income????.... people seem to forget talking about income.
Hi Brendan, the only person you should be talking to about this is your (independent) mortgage broker.
I bought my house for 130km, it’s now worth 230k . Could I use my 100k profit to pay off my existing mortgage of 50k . I’m 31 years old aswell , not sure if age makes a difference
Regretfully, I'm not allowed to offer any advice here... Your best bet is to speak to as mortgage broker. Sorry I can't help.
What are some of the risks of this strategy?
What about when the main residential property is on Repayment mortgage? Doing a remortgage in this case will significantly reduce cashflow, especially taking into account more realistic single let, not HMO. It doesn't even break even in most cases. How do investors start with their first BTL? I appreciate your effort, but it's extremely rare when people have their residential property on interest only. Numbers do not add up when I do same calculations with main residence property on Repayment mortgage. Or am I missing something?
Thank you for your question/s
Yes... If the property is on a repayment mortgage the numbers would be different and it will reduce Cashflow... but then you ARE paying down the debt... which is not a bad thing 😊
Yes... A single let will reduce Cashflow... which is why I suggested an HMO
Yes... It is rarer for residential houses to be on an intetest only mortgage (although mine is)... not that that is relevant in the example I shared here.
Correct... The numbers WON'T add up when you do the same calculations with the property on a repayment mortgage.
I hope that helps and thank you for your post.
really excited to start something like with property and started to watch your videos. really useful information about the property.
I have a questions please 'what sort of income do we need for a mortgage and for how long you have to work and show your income?
Hi Abidullah, thank you for your question. Unfortunately I'm not allowed to comment on finance questions as I'm not FCA approved. Honestly, the best thing you can do is to phone an Independent Mortgage Broker and they'll ask you some key questions and then give you the answer you need. I wish you good luck moving forward 😃
Excellent explanation!
Thanks Adam 😃
I have £60k to invest should I buy a property outright up north or buy one for £160k for example with a mortgage. I want it as a retirement plan in 25 years to pay an income. Money has been borrowed from our current home. Can you do a video on that.
To be honest i tend too shy away from videos like that because everyone is so very different with very different needs and wants. However i will say... Calculate the return on investment that both the options you have just presented give you... Now which option do you prefer 😊
Literally the best case scenario in every way. Lots of hurdles to over come!
Isn't there a rental stress test when you remortgage in your example so it might be worth 300k but doesn't mean you can release funds. What would be your next move if that was the case?
Hi Will - great question!
There certainly IS a "rental stress test" for buy to let properties (which varies between lenders) - you're absolutely right - however in this example, we were remortgaging our own house if you recall.
There is still a criteria that needs to be met - but a residential mortgage is evaluated differently.
I hope that helps - and thank you for the comment :-)
Very timely video, I’m working out whether to release equity from my video. I suppose the benefit of leaving equity in the property is a better interest when remortgaging therefore a lower monthly payment assuming all other variables are the same. I’m working with tight figures, so fingers crossed. I like your approach and style, very down to earth. Thanks.
Thanks so much 😃
Say I own a house which is mortgage free and it’s worth £300000, I want to buy another house which is worth £400000. How do I remortgage my mortgage free house to release funds to buy the second home? Would you have to pay a mortgage again on the property which was mortgage free?
Hi Seb, you need to speak to a mortgage broker.
So what do you do at the end of the mortgage when you need to pay back the initial mortgage amount???
I'd be very happy to run you through all of the options if you'd like to book a coaching call with me... Just go to my website to book some of my time 😊
I'm confused. Your example doesn't seem to include the interest payments on the £120,000 mortgage which would need to be a Buy To Let mortgage. Those monthly repayments could be £500 which wipes out any profit.
Hi Graham, I am sorry for any confusion... If you please watch the video again you'll see that is covered 😊
@@YourFirstFourHouses Hi Tony, and thanks for the quick response. It deserves one from me. I spotted it on watching again. You said that the 675 was AFTER the costs of the new mortgage. I apologise, I had missed that.
Part of the confusion was caused because in my area a property worth £160,000 would only generate a rent pcm of (coincidentally) £675. If the new B2L mortgage in your example is £500/mth you must be assuming a rental of £1175 pcm. Unfortunately that's not achievable around here.
No problem Graham and thanks for getting back to me 😊
Dont we have to pay interest on the new mortgage of $120,000 that we applied for as well on top of the $45,000??
Yes, that’s correct and this is factored into the numbers. If you didn’t follow - can I maybe suggest watching it again? I do appreciate it sounds a bit complicated.
Thanks a lot for the great content & presentation.
I have a question on the evaluation of the new home: We still need to have 25% down payment (75K) of the new loan (300K). After re-paying our previous loan and removing equity, would bring us to a surplus of 25K (225-180-20).
From these extra 25K, how do we come to the 75K required for the new loan?
Thanks a lot and keep up the great content!
Tony I love all of your videos. I have three investment properties on long term BTL mortgages. Our main home is owned outright with approximately ~£600k equity. What are your thoughts on borrowing against our home to buy more property? Obviously it takes away that safety net of the roof over our heads being untouchable. But it’s tempting as a quick way of raising cash for deposits on further properties.
I can't really comment on here but I'd be happy to have a chat about this if you wanted to book up a 45min coaching call? (Cost = £147)
What about stamp duty payment and others fees on second property, what about taxes paid on income on second property. When all these are considered in the financial model, is the residual income worth all the effort involved in buying a second property?
+Mazda Rotaries... Hi Mazda - that is an EXCELLENT question! The answer is........ Often for the amateur investor - who does know how to find GREAT deals..... No!
But if you can get good at finding deals and get good at valuing properties based on ROI...... Then Yes!
Hi, love the video and I have a question, are you still replying to this video?
Thank you 😊
that would be hard to get that kind of cashflow on the investment property considering the prices of properties now.
I really think it depends
Excellent thanks
My pleasure 😃
What about property tax, insurance, upkeep and income tax ? Where is that calculated in, sir ?
You’re absolutely right, you should ALWAYS factor in EVERY cost when doing this for real. But hopefully this short video will help you understand the basics for releasing equity to invest.
@@YourFirstFourHouses Yes sir, it did.
You should make more videos on this topic, maybe with real examples too ...
I love ur Chanel all in love
Thank you 😊
When can i access equity? Only bought my first property 3 months ago.
Thank you for your question, but can I suggest you give your mortgage broker a call on this one, because I don't know anything about the property, or its value, or whether you can refinance at all.
.... but if you give them all the details, they'll be able to tell you straightaway 😊
So each property you’ll have to pay each mortgages if you don’t find a tenant?
“Technically” you’re paying each mortgage REGARDLESS of whether they’re tenanted.
………. and in todays market - if you REALLY can’t find a quality tenant I’d be stunned!
thank you sir for the precious information !
Thank you 😊