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Hey guys,
New to BP, first post. Thanks for any insight.
Here is my situation. I have three properties.
First: Primary, about 600k, owe about 330.
Second: Rental, about 550k, fully paid off
Third: Rental, 500k, owe about 270k.
I want to invest in more properties. I am in the process of getting a heloc on my primary. about 100k to invest in rental properties in Texas. I want to buy about two properties with that. After that, what i'm asking you guys is. Where should I get more money to invest. Take the hit on my third property by selling it and using the proceeds to buy more properties in Texas. Apparently I can't take a heloc off a rental. I don't know how that is because people seem to do it all the time.
Please help.
Thanks
Yooch