Are Bridge Loans a good idea?
My current house is paid off and worth about 90K.
I have about 80K in savings most of it inheritance from deceased parents. I would like to move to
a nicer home and would it be smart to use the
entire equity for a downpayment for my next home
without touching my savings? I want to start investing my savings.
- 1 decade agoFavorite Answer
Bridge loans are great if you're building a home, but with all the foreclosures around, try to find a great deal with built in equity.
Also, since you want to invest your savings, I have great opportunities in real estate investing all across the USA from $80K into the multi-millions.