How To Use Your Home's Equity For A Real Estate Project
If you own a home but want to buy a run-down house to flip, you might be able to do this by using your home's equity. Equity refers to the difference between your home's value and your mortgage balance. You can use this money to finance a project if you want, and here are several things to know about how this works.
Evaluate Your Finances
Before you pursue this option, it might be helpful to evaluate your finances.