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Updated over 6 years ago, 06/18/2018
Help on how to buy more rentals
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!