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Should I Use Equity to Expand My Property Portfolio?
Should I Use Equity to Expand My Property Portfolio?

Should I Use Equity to Expand My Property Portfolio?

Hey everyone, I’m looking for some advice on starting my investment portfolio. I own a condo outright, paid it off in cash 5 years ago, and it’s now valued at 160k. I’m wondering what my next move should be. Should I leverage the equity in my condo to buy another property and turn both into rentals? I want to make the most of this opportunity to secure a better future for myself, but I’m a bit unsure about the best approach. I know I’m in a good position not having a mortgage on this property, and I’m eager to expand, just not sure where to start. Any tips or suggestions you could share would be greatly appreciated. Thanks a bunch!

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