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Updated over 6 years ago, 06/18/2018

User Stats

15
Posts
3
Votes
Nilo Ignacio
  • Contractor
  • San Antonio, TX
3
Votes |
15
Posts

Help on how to buy more rentals

Nilo Ignacio
  • Contractor
  • San Antonio, TX
Posted
Hello everyone. I want to start buying and holding rental properties. I have one rental that is paid for that is worth $125k and the home I live in is also paid for worth $225-250. I'm a self employed. I have 50k in my bank. I haven't check lately, but last time I check Banks don't want to lend self employed any money to buy rental properties. Is there a way to re loan on my rental property so I can use that to buy rental? I'm almost 50 and I'm afraid because I have no retirement income. Need advice on trying to buy rental for passive income. Thank you in advance. Not sure if diff state have diff rules but I live in Texas!

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