Can I Use My Home Equity To Buy Real Estate?
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- Опубліковано 17 вер 2019
- What is home equity and can I use it to buy real estate? In today's episode, I'm going to give you a breakdown of what home equity is. I'll also be giving you some tips on how you can leverage it to make more money by investing in real estate - and you won't even have to sell the house you're living in. Check it out!
00:33 What if I have equity in my home?
00:56 Here's what equity is
02:04 Cashout Refinance vs. Home Equity Line Of Credit
04:29 What can I do with this money?
05:52 You'd be crazy not to do this!
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EARNINGS DISCLOSURE
Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. Also, Kris Krohn, this document, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
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NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE
The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.
DISCLOSURE OF FINANCIAL RELATIONSHIP
Mr. Krohn has a financial interest in EPIC Insurance Services, LLC (EPIC), a licensed insurance brokerage agency incorporated in New Jersey, and is compensated by EPIC. See full disclosures here: www.kriskrohn.com/epicdisclosure - Навчання та стиль
This should’ve been a mandatory college course!!!!!!
I swear lol
...this needs to be a class in my school
Word! 👍
Right if you look at it you really don't learn about living life better in school
Public school is designed to make you an obedient tax payer
Yezzer
Things people say at market tops 🤡
thanks for the video!
This is exactly what I needed to hear. I am so happy I ran across your video.
Very well explained! Thank you!
Thank you! I needed to watch this because you answered all my questions!
I’m preparing my self for the next.
thanks for this, you cant go wrong with a pen and white board so simply to understand.
Thank you Kris! 🎉
You are the man!
Great video Kris!
It’s kinda hard to understand but I’m kinda getting it
Love it Kris
Im just here to read comments
Great video!!!!
I lovvvvvvvvvvve your theme song 🎶
It’s so catchy
THANK YOU BROTHER 🤙👍
This is my exact situation...I bought my house 5 years ago and got about 130k-150k of equity. Now I just got to take action and find the deals. I really enjoy your videos👍
Nice. Yes time to take action
Awesome 👌 I'm in this situation now and considering to do something like this
I'm in the same exact situation. 5 years ago bought my first home. Have about 140k in equity. I'm getting ready to cashout refi and buy more properties!
How did it work out? We bought our home 5 years ago and have about 300k in equity. San Diego has gone up in price. 😩We need a bigger home but don’t want to sell our current.
Use equity as an downpayment for another loan or something? Please explain.
A new video.
American videos are so much better then brazilian ones.
Thank you guys!
Very detailed and simple explanation.
Thank you
Great content
Kris ~! Thank you. I started my investment last two years after listening to you back. Now I am listening to you daily!
Thank you man
Thank you !!!!
Thanks for the vudeo...Love from india
I just bought a home last august and the value has gone up 90k. I’m kinda shook after watching this video.
Lets freaking gooo!!!!!
Bro! 🔥🔥🔥🔥
Awesome
Thank you
This is a game changer.
My home equity is in the form of a heloc I can still use it but I end up with a second pmt with a bit (not much) % rate
Thankyou
Yes.
Thanks
I can’t wait to get started on real estate, the failure part is scary because that’s a LOT to risk
The hardest part is starting! Do it! Just did it 2 months ago. Learning everyday
Can't learn to ride a bike by reading a book. Get in there!!
Its been a year how'd it go?
Heard a lot of quotes....use the simple one...Just Do it... survival instinct takes over...failure is not doing anything
How'd it go?
@kriskrohn Sir, I have a question
Is The HELOC or Cashout that you get from your bank first going to pay off your home ?
nice video
Ofcourse you can use your home equity. However bank usually charge variable interest if you tap into your equity so It's kind of risky. You have to know well your financial situation. A lot of people buy a new property either to rent it or sell it in the future. Be careful with this kind of adventure.
You’re talking about a HELOC. Home Equity Loans are fixed rates.
Not if you have a wife that wants a new kitchen
Appraisal goes up, value of your house goes up. Do the work yourself and have her sit through the burden. XD
Get a divorce
Lol
😂😂😂😂😂❤❤❤
I beleive I have about 100k in equity and liking this idea. What's the next step
Thank you very much My house in one year the value when up almost 40k. I guess I can use it to get my second house since my credit still remains
At excellent score!!! Thank you again
Congrats hope you're doing well and were able to buy that 2nd home!☺
Hey Kris, i do have about $50k in equity and would like help on what to do with it
Hi, I’m wondering if this 1$ is for hard copy of your book or soft copy? Because now I bought your book but I got the soft copy and I didn’t get any information about hard copy please be clear with us.
Do you do all locations
Dang Kris you the truth
Value of home 155k owe 67k but it's a FHA so recommend?
i like it
I have an old house It needs lots of work I don t believe there is any equity in the house. I would need to get an appraisal But this video is a great example of why you need to buy a home.
Totally 👍
What can i do if i have equity left in my primary residence but i cannot access it anymore because my income cannot allow?
Facts
Love the scenario outcome of pull out equity, buy another property, rinse and repeat, but what happens when properties start losing value??
No one ever thinks about those important scenarios
You get the real estate equivalent of a margin call
How often does this happen??? Inflation never regresses and holding on to properties is usually always a WIN in CA that is!!!
I live in Australia would you team still help me?
What protections do you or can you put into place when something like covid hits and suddenly you have squatters instead of renter and the government won’t let you kick them out?
It all depends on the state. Look at the past year of covid on your stste. What happened to the owners of those homes whos tenant did not pay.
The landlords also got forbearance option.
Avoid NY & CA based on Covid mandates they were extreme
Q: can you lose your house (the one you borrow against) thru a HELOC?
Yes, you can. A HELOC is a loan through either a bank or lending service, and if you fail to make payments they could claim that asset as their own
If I have a property in Mexico am I allowed to tap in to that equity and invest in a property over here in the U.S? Someone please answer it’d be a big help
You can take the equity of your home in mexico, but to invest in the states you will need to have proper docs to ensure the investing is properly done. I would recommend you talk with an attorney and CPA.
With equity borrowing, does your amount of monthly income matter to the bank?
Of course
Yep
Can I do this with VA loans?
I would also love to know this
All this sounds very easy but end day isn't a easy business
Question: is it best to set this up as an individual? OR file it under an LLC?
Did you ever find out the answer to your question?
LLC of course
I need help with my equity. How can I get contact you?
I’m in the same boat. Over 100k in equity but I’m still working on increasing my income. Would I be able to do this if my income is still low at the moment?
Same boat.
Home owner. No job (military vet). Curious what moves we could make.
Listen to your sound track with headphones, the music is too loud
I need help, want to learn
I went to the Wells Fargo and they would only give me 7 percent of my total equity. idk if this is bs or Wells Fargo is bs
Wells Fargo is bs
Maybe because of your current income? Not sure
Are you wearing shorts?
i got a home equity to buy a four unit...now id like to get a loan on my four unit to pay off the equity on my home...is it possible
What did you end up doing in this situation?
But now you have two mortgage payments...I don't get it
will it be possible to use the whole 220k after the refinance to purchase a new deal?
and keep the renters pay for the first house?
yes
Why don’t we learn this in school !
I need a mentor. Would u be willing? I need someone that I can call amd ask questions and walk me through it.
What other questions do you have that you would like answered?
Wondering if anyone else keeps a watermelon sitting on their counter like that?
Can i use home eqauaty to buy anothet home for investment
Yes of course
The entire video just explain it smh.
Will the bank really just hand out my home's equity to me? Because if I pull the equity out today, and 5 years later my property's value rises again, then can I again pull the equity out a second time?
yes
Yes
Cha Ching
Video was 8 months ago, and Kris... You have not replied to any of the questions in the comments. Please communicate a little with your audience. We greatly appreciate your videos and simple answers make us feel more comfortable considering working with your team. Thanks
Hes got better things to do
U can dm him on his Instagram. He's usually active there and replies to mostly all dm's, including mine...
What if your equity is 30k can you pull tht out in a Heloc?
Not 100% of your equity, but yes
👍🏽
What rental property are you purchasing for 60K that you wouldn't have to do renovations? 🤔
But then you also preach that your investment property down payment shouldn’t be a loan........???
Why not body talking about income
This is like creating a Ponzi scheme on yourself
This sounds so easy. This clicked with me
Forget HELOC and go Home Equity Loan.
I did home equity loan ❤❤
I'm pretty much in this situation right at this moment, bought my residence house in 2017, now I'm trying to buy a land for $60000, my agent mentioned the HELOC, but I have these couple of questions wish you can explain to me please?
1- Can i use HELOC to buy a land ( Not house}?
2- Can I use HELOC and a the same time get a anther loan? yes or no
3- i'm I eligible for HELOC even if i have a loan on my car?
please excuse my ignorance, i wish i can attend a live seminar fr you if there is any, thank you in advance
forgot to mention, my house cost $235k, put down payment more that %30, today's market ( 07/05/2020) my house averaged $264k,
my payments on my car still $30k,
Thank you so much
I have 520k in equity what can I do?
Get a HELOC.
LOL
bruh that whole u are allowed 220k but can only get 60, really confused mr
Kris pls help me
What specifically do you need help with?