How Amy Realized Her Rental Property Dreams

Amy, a Utah homeowner, was seeking a financing solution that would allow her to bring in some extra money through an investment property.

“When I decided to work with Hometap, I was looking for funding to build a container home on an existing property and increase my rental income,” she explained.

She considered many traditional routes for tapping into her hard-earned home equity — but as she explored her options, she encountered some challenges, as her nontraditional sources of income didn’t meet the rigid application and approval criteria of many lenders.

“I had tried multiple financing options, including traditional home equity lines of credit (HELOCs) and other loan options. I was unable to qualify because the sources of my income are primarily from rentals,” Amy said. And while she also researched other home equity investors, Hometap came out on top due to its flexibility.

“Looking at receiving an Investment from Hometap was really the best option for me, and I considered other companies that do similar investments. But Hometap seemed like the fairest option and the most willing to work with me in the circumstances that I was in.”

Patricia, Amy’s Investment Manager, worked hard to understand her specific situation and financial goals in order to guide her through the experience seamlessly — and Amy appreciated the personalized support, especially when some challenges arose.

“The best thing about working with Hometap was the Investment Manager and the relationship that she built with me. And the fact that I felt comfortable asking her any questions that I had,” Amy said.

“She also worked me through a lot of different, complicated issues that I had in my individual circumstance. But she was amazing and helped me to get across the finish line and get the funds that I needed to build my container home.”

Now that Amy has received her Investment, she’s excited about moving forward with her rental property plans — and about the future.

“The funds that I received from Hometap are making a huge difference for me, being able to build the container home that I want — which is actually going to be a two-story, three-bedroom, two-bath container home. And it's a place that one day I plan to retire. So I'm very grateful for Hometap and for all that they did for me,” she said.

If you could benefit from accessing your equity to reach your goals — financial or otherwise — find out if you qualify for a Hometap Investment. It only takes two minutes.

*Disclaimers: This homeowner was compensated for providing Hometap with an interview about her Investment experience.