How to Leverage with Cash Offers

[Amir B.]

Hello BPers,

I am still new and learning every day. My question is about financing a deal with a cash offer. I wondered how to pull out the cash and re-invest in another property. I recently had a discussion with @Joe Villeneuve about this, but not sure if I understood him. I currently own an SFH in Ohio, free and clear. And I also own a duplex with a mortgage payment.

If my question is vague and not precise, please let me know.

Thanks in advance,

Amir

[Chris Davidson]

Quote from @Amir B.:

Besides refinance, what is another strategy?

Thanks 

 Getting a line of credit. To tap into equity in a property you either can refi or get a line of credit. Both have pros and cons. Talk to a lender and see what fits your needs best. 

Secondly if you don't want to hold the property you can always sell, but doesn't sound like that is in your plan.