I borrowed $150,000 against my home to buy another property to list on Airbnb. It was worth it even though rising rates boosted my monthly costs by $140.

Jan 8 2023 by Business Insider

 
Tate Cline cashed out $150,000 of his home's equity to buy a renovate property for Airbnb.

Tate Cline

Tate Cline cashed out $150,000 of his home's equity to buy and revamp a 26-acre property for Airbnb. The interest on the home equity line of credit, or HELOC, was 3.5% in April, when he was approved. It's now 7.5%. Tate expected costs to rise so isn't worried — and he plans to pay off the loan soon.

This as-told-to essay is based on a conversation with Tate Cline, 38, about his experience...

Continue Reading I borrowed $150,000 against my home to buy another property to list on Airbnb. It was worth it even though rising rates boosted my monthly costs by $140.