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Updated over 1 year ago on . Most recent reply

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Jonathan Sala
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how to finance an investment property?

Jonathan Sala
Posted

Hello Bigger Pockets community, My name is Jonathan and I am trying to identify a way to refinance an investment property that I am planning to buy using a HELOC. I am a newbie investor and I want some advice on which loan you think it is a better fit to refinance. Thank you all.

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Brittany Minocchi
  • Lender
  • Massillon, OH
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Brittany Minocchi
  • Lender
  • Massillon, OH
Replied
Quote from @Misty Jay:

To piggyback off of this question: if a DSCR loan were to be approved for a property, as a new investor, would it be better to find another investor to come in on the deal? If so, what typically would be a good split between the two?

Or would it better to find a loan to match the difference? 

Not necessarily better, just depends on what you can handle alone and what you’re comfortable with. If you’ll need help managing the property and want someone else’s involvement, need help funding a rehab, etc, then it may be worth exploring. 
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Brittany Minocchi - Barrett Financial Group, LLC
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