How Luis Financed Investment Properties to Grow His Portfolio

Luis accessed his home equity with a home equity investment in order to expand his real estate portfolio

Luis, a Florida homeowner, had big plans to purchase investment properties and make necessary improvements and updates to them, but there was just one problem: he didn’t want to take on additional monthly payments in the process, especially with the economy’s ups and downs.

“I wanted to pull some equity, I wanted to be liquid in order to buy additional real estate, and…I didn't want to have debt, meaning I didn't want to have to pay it monthly as some other programs offer, like a HELOC or home refinance,” Luis explained.

“So my goal was to be as protected as possible and to not have to worry about monthly payments if the market went up or down. I also wanted to use that cash in order to finish a couple of projects…in the investment property that I initially purchased.”

With those goals in mind, Luis began looking for a solution and came across Hometap. One he made the decision to move forward, he was impressed with the honesty and communication during his Investment experience — which his dedicated Investment Manager, Kaleigh, guided him through from beginning to end.

“I liked pretty much everything [about how] Hometap has structured the whole process and that's something that I really appreciated from the first call…it was very straightforward,” Luis explained. “[My Investment Manager] did a fantastic job…and I understood what needed to be done, and we just moved forward and everything was as simple as that. So that's the one thing that I really, really liked the most — customer service being so thorough and so honest in the whole process. That's something that is really, really hard to find, especially in real estate. And so that for me was the best thing: the constant communication.”

With the cash he has accessed from his home, Luis feels much more confident about his ability to buy and improve his investment properties, and less stressed knowing that he didn’t have to take on debt or monthly payments to do it.

“The funds will improve my life in the sense that I am in a better position now to find a new deal, or to have liquidity in order to fix whatever it is in the property…major or minor renovations…but overall, it's just the peace of mind that they are there and that I can use them in a responsible way, of course, understanding that it's equity pulled from the property to either add value…or increase my portfolio.”

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 his Investment experience.