Got Equity in your Property? What is the risk and the opportunity?
The world is in financial turmoil, Europe is debt ridden, a credit squeeze is looming!!
My mantra is to buy in Gloom and sell in Boom…..
My view is that we are in GLOOM and that there will be great buying opportunities that will present itself over the next 12 months!
Hope for the best, but ensure you are prepared for the worsed!!
So what is the opportunity?
Whether we are in for a storm, or there is potential to take advantage of potential opportunities….. you need money, or access to money.
At the moment, those with Equity in their property are in the pound seats, but not for long. If you have equity in your home, consider of obtaining a line of credit.
Cash is king, and you want to be in a position to take advantage of bargains that are available, or have enough resources to weather a potential storm.
Those with lines of credit will definitely have a competitive edge. Loans will become harder to get as the credit squeeze unfolds, and what you will be able to get now, you may not be able to get then.
Interest rates are at a low, and it is a great time to borrow, but the risk at the moment isn’t wjhether interest rates will go up or down – but the ability to get cash due to a potential credit squeeze!!