Do you own a portfolio of rental properties in Monterey or Salinas and are thinking about pulling equity from one or more of your properties?
Even though it may seem that pulling Equity from one or more of your rental properties is the right thing to do, the reality is that you should carefully consider if it’s the best decision to make or not.
This article with several tips on when it’s the right time to use equity from your rental properties.
One of the best reasons to consider pulling equity from one or more of your rental properties is if you plan on using that money to expand your portfolio of investment properties.
Growth is always a great reason to utilize the financial resources that you have available to you, just make sure that the property you’re going to invest those funds in meets the principles of an excellent real estate investment deal. There’s nothing worse than using equity from a rental property only to end up losing money in the long run.
Another excellent reason to pull equity from one or more of your rental properties is if you plan on making capital improvements to one or all the properties that are in your portfolio.
Capital improvements is always a smart use of equity especially if you plan on adding new flooring, windows, improving curb appeal, adding new doors or replacing the roof on your investment property
Besides pulling equity from one or more of your rental properties for growth or capital improvements, you should also consider utilizing your equity if you plan to pay down your debts.
Contact 36 North Property Management
To learn more about the property management services that we can offer you contact us today by calling (831) 484-4604 or click here to connect with us online.