Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

16
Posts
1
Votes
Vestonia V.
  • Smyrna, DE
1
Votes |
16
Posts

How To Pull Equity Out Of A Paid For Rental

Vestonia V.
  • Smyrna, DE
Posted

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!

Loading replies...