Episode 33 - Use Your House to Get Rich
Did you know that the average homeowner is sitting on over $175K equity? That's right. So what can you do with it? Tapping into your home’s equity can be beneficial in many ways. Home equity is a way to build personal wealth over time, and you can access the cash needed to improve your financial situation or for whatever else you see fit. You can also use it to fund substantial expenses, and it's often a more cost-effective financing option than using credit cards or personal loans. But let's focus on using equity for wealth building. What can you do with your home equity? That's what Sam and Lucas are discussing in today's episode. So tune in and discover a couple of ways to use your house to get rich.
“That $175K average, and obviously some people have more than this average, that can change people's lives. You can use that for so many things.”- Sam Primm
“If you're a real estate investor, I would use that money to fund your projects, whether it's your flips or building your rentals. That's exactly what I would do with it.”- Lucas Walls
Resources
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WHAT’s IN THIS EPISODE?
- Why so much equity?
- What is HELOC? What are its Pros and Cons?
- What is Cash Out Refinance? What are its Pros and Cons?
- Random Thought of the Day: What animal would win in a fight?
Meet the Founder of FasterFreedom
I founded FasterFreedom to teach people just like me to take ownership of their freedom. There is a reason why real estate creates 90% of millionaires in this country.
It's an incredible vehicle for leverage, cash flow, appreciation and the sheer practicality of it… Everyone (and I mean everyone) has the opportunity to benefit from Real Estate.
Real Estate can be overwhelming at times which is part of the reason why we don’t see more people taking advantage of the incredible wealth creating opportunities it provides.
I launched FasterFreedom to do just that… we provide the foundation and grooved path for individuals wanting to achieve freedom and financial independence through Real Estate Investing.
I pride myself in practicing what I preach, meaning all of my lessons and tips are constantly updated and based on the real investing that I do right now- so you only learn what works and not through theory or outdated practices!
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