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Updated over 7 years ago,
How To Pull Equity Out Of A Paid For Rental
Hi Bigger pockets peeps,
I am a new investor who bought my second rental about a month ago all in cash. I had planned to buy the house (bought for $35k and get $825 per month in rent) and pull all the cash out with a home equity loan. The home is valued at about $50k. However, it is not my primary home and did not know that home equity loans require the home to be the owner's primary residence. The money I put into the home is most of the liquid assets I have and need to pull the equity out. Could you all please educate me about ways that I can pull the equity out of a home that is all paid for. Please HELP!