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I want to turn my house into an investment and move to a different house

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NewbyInvestor05 | 06 May 2015, 11:15 AM Agree 0
I have equity in my house. I was going to turn that into an investment property and purchase another house in a different area to live in. I have been doing some research and some advise was that this will make your loans top heavy. My questions:

1. Is it a good move to turn your current house into an investment property and move to another?
2. Can you use all of your equity in your current house and pay that straight off the new mortgage that you will be living in? So then both mortgages will be the same amount.
3. What kind of savings should you have for investing in property. 6 months worth of expenses seems to be the general rule of thumb or can you do it with little or no savings?

Thanks so much.

  • howardm673 | 13 May 2015, 07:31 PM Agree 0
    It is a good idea to change your house into an investment property if you are getting a good price for it.
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