Investment property refinance

[Danny Banda]

I have one investment property looking at taking equity out. Currently have $150,000 equity built up. I have done spoke to some vendors offering 75% LTV offering 100k in getting cash out. My goal is to buy a second investment property. I'm stuck in the next step do people normally take that 100k use it for a down deposit for the next property but than that means, a separate mortgage will be needed to complete that or just try to find a property near what getting out of my property which is 100k