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/biz/ - Business & Finance

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No.29058554 [Reply] [Original]

Hey bizbros I have a question that I'm having a hard time finding a useful answer for: Does anyone here have experience taking out a collateral loan to use as a downpayment for a real estate property? Let's say I have $500k in crypto, and I don't want to sell any. Can I take out a $20k loan, with my crypto as collateral, and then use this $20k as a down payment for a rental property? Then pay off this loan together with the mortgage using the rent (and other income) I'll be paid each month?

>> No.29058820

I think AAVE is what you are looking for

>> No.29058829
File: 808 KB, 823x2371, goldswitzerland 2016 gold property price prediction.png [View same] [iqdb] [saucenao] [google]
29058829

>>29058554
Stay away from (((loans))) and (((mortgages)))

Buy a few ounces of Gold and wait it out for the collapse

>> No.29059082
File: 29 KB, 406x452, 27BDA397-6919-454B-AAAA-83542B3AC0DC.png [View same] [iqdb] [saucenao] [google]
29059082

>>29058829

>> No.29059241

>>29058554
I don’t know but bumping for interest. I also plan on getting into real estate through crypto but plan to gradually sell assets to fund down payments, then BRRR and scale up

>> No.29059741

>>29058829
Retard

>> No.29060789

>>29059241
My thinking is that as long as you are renting it out with enough to pay off a mortgage, paying off a $20k loan really shouldn't be that difficult (I mean that's as much as a shit car costs, and getting loans for cars are easy as hell). And this way you avoid cashing out and can keep trading. In the long run I think $20k in crypto right now worth much more than $20k as a down payment, but I want to get into real estate in the coming months.

Isn't this what billionaires to with their company shares? Take out collateral loans to invest into something else?