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Advice on equity in homes
Pompey44
Posts: 3 Newbie
Hi all,
My first post after finding this first class website...
Background- I have 2 properties, one I rent out since the 80's after I could not sell it, due to negative equity, now has 80k equity -- Yiphee!
I live in a house which I bought 9 years ago, which also has 80k equity, I'm no property investor, but got lucky with the property boom.
Now I want this money to work for me. I think I have 2 choices.
1. Sell my house and upgrade, maybe find something which needs work
2. Remorgage and use 20k-40k to buy another home and rent my current house out to.
Or am I missing the obvious?
I would be very grateful for any advice
Regards
SP
My first post after finding this first class website...
Background- I have 2 properties, one I rent out since the 80's after I could not sell it, due to negative equity, now has 80k equity -- Yiphee!
I live in a house which I bought 9 years ago, which also has 80k equity, I'm no property investor, but got lucky with the property boom.
Now I want this money to work for me. I think I have 2 choices.
1. Sell my house and upgrade, maybe find something which needs work
2. Remorgage and use 20k-40k to buy another home and rent my current house out to.
Or am I missing the obvious?
I would be very grateful for any advice
Regards
SP
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