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what can I do with earn equity on my properties? how can I make money with the equity?
I have 2 properties. My house and a 3 unit apartment small complex. I want to know what I can do with the earned equity. I have no debt, I am very frugal. I am a professional, but still I live from paycheck to pay check. any advise? How can I take advantage of this situation?
Other than real estate investing what are my options? the real estate market in my area is tough.
As you have realised, your portfolio is very heavy on property.
One of the fundamentals of investment risk management is to diversify. When you are diversified when one investment type experiences a decline another might go up.
If you are carrying no debt on your 2 properties you are actually in a good position but might need to move things around. Are all of your properties currently rented? What is happening to the income from that?
You may want to consider buying some shares as an additional investment. They will provide you with a semi regular income and can be sold very quickly and in small parcels, unlike property.
You'll obviously need some money to purchase shares. Would you consider selling one of the units in your complex for this purpose? Or taking a loan against the units?
Another investment category it sounds like you should be strongly thinking of is cash. You should have a "rainy day" account that could keep you going for at least a couple of months.
I would suggest you talk with a financial planner. Shop around for a decent one and understand what services they offer and how they get paid e.g. are they going to just flog product from one place.
Sounds like selling the unit block and converting the proceeds to a smaller block or less units and shares and cash may be a good idea.
I am not an expert and don't know anything about your situation so it's hard to comment
