Nearly 40% Properties are Equity Rich.

Nearly 40% Properties are Equity Rich.

Per the National Association of Realtors, 40% of the properties are equity reach. 

What does the word equity reach mean? That means their combined loan amount on the property is less than 50% of the value of the home.

So that means they have 50%  or more equity in their home. And that's just 40%. Now think about the other people who have 40% equity or 30% equity. There's a lot of people sitting on the gold mine of real estate right now.

Based on this data, my question to the homeowners is, do you have any plan with that equity? What do you want to do?

Do you want to sell this home, get the equity out, maybe put a larger down payment and buy the bigger home, the dream home, keeping the expense the same. That could be something to do. Or maybe get that equity out and get some investment property. That could be another thing. Or, do both. Get the equity out, Put a larger down payment on the new home to keep your payment low and also buy investment property. So that's the way you can get some rental income or build up your real estate portfolio for the future. 

And now my question is to the renters or the buyers who are on the fence. What do you think? Do you want to be one of these homeowners who are sitting on the gold mine? This is the time to take advantage of the situation of the low interest rate. Stop paying the rent, buy your home and there will be a day you will be in this position where you will be called Equity Rich.

So, my friend, give me a call. Let's discuss this. If you are Equity Rich, my question to you is, what's the plan you have to use the equity to help your family with your finances? And if you are a tenant or you are in the process of buying the property, what's your plan? 

Do you want to be the Equity Rich?