The team of financial advisors behind Paidoff™ has released a new report on the benefits of using home equity to start a property investment portfolio.
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Called ‘5 Smart Reasons to Use Your Colorado Home Equity to Buy Another Home,’ the Paidoff™ team’s new guide to home equity is designed to help homeowners that are interested in building a property portfolio within Colorado take advantage of the state’s robust real estate market.
More information is available at https://www.thepaidoff.com/5-smart-reasons-to-use-your-colorado-home-equity-to-buy-another-home-now/
As Paidoff™’s new report stated—citing the findings of the February 2024 Mortgage Monitor—mortgage holders gained $1.6T in equity in 2023, the highest value on record. What this means to the financial advisors at Paidoff™ is that Colorado homeowners now have more equity to play with than ever before.
As their new report explains, many homeowners tend to think of what they have borrowed to purchase their first home, rather than the equity they have gained, which can stop them from investigating how to use their home’s equity to buy a second property.
As such, Paidoff™ states that using home equity to buy an investment property for either long-term or short-term rental can be used to both generate income and to minimize a person’s tax liability. It can also be the first step in building a bigger property portfolio.
“Investing in real estate is a great and safe way to accumulate wealth,” their report said. “Property values have historically appreciated at 4.1% for the past 30 years. Home prices have risen for 11 consecutive years; in 2021, they increased by over 18%—the highest jump on record. Many homeowners became instant millionaires.”
Moreover, as the Urban Institute recently found, the average wealth gap between homeowners and renters in the US has now reached over $1,370,000, a divide that has widened by 250% over the last 30 years. This is a stark figure that the Paidoff™ team believes highlights that property ownership is now one of the most reliable and necessary ways to build wealth in the country.
As to the how of accessing this home equity, Paidoff™’s team, including their founder Irina Saveliev, is able to offer comprehensive advice comparing HELOCS, home equity loans, and more.
For more information, visit https://www.thepaidoff.com/5-smart-reasons-to-use-your-colorado-home-equity-to-buy-another-home-now/
Contact Info:
Name: Irina Saveliev
Email: Send Email
Organization: Paidoff
Address: 600 South Cherry Street Suite 143, Denver, COLORADO 80246, United States
Phone: +1-303-870-8337
Website: https://www.thepaidoff.com/
Source: PressCable
Release ID: 89134517
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