29 April 2008
Home equity is certainly desirable if you are paying off a property you are living in, but it isn't always a necessity for investment properties. By taking out an interest only home loan, you can pay just the accumulating interest on your debt without building home equity by covering the principle. Renovations to your investment property may build up some equity, but as the goal is to profit, any money you make over the principle and what you have paid in interest, fees and renovation costs will just be profit.
Please visit our home loan page to visit lenders who may be able to help you build up home equity.
