HELOC on Investment property
Newbie here, I currently own a rental worth 200,000, bringing in 1200.00 a month, and its paid off. I wanted to obtain a HELOC, for down payments on additional rentals but is proving difficult. Is it more beneficial to get a cash out refi. at a fixed rate or just sell it and use proceeds for additional properties.
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@Patrick Williams try finding a portfolio lender in your area. They should have a loan product like that works for you!