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Updated over 6 years ago on . Most recent reply

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4
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0
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Justin Chang
0
Votes |
4
Posts

Advice for a newbie !!

Justin Chang
Posted

Hi everyone!!

so excited to be here . I am new to bigger pockets and real estate investing.  I am from markham ,canada 

my current situation is I have a rental property with a cash flow of 300, current mortgage of 130,000 , condo value about 450,000 . My primary residence i have a second mortgage of 280,000, condo value now is 600,000. And unfortunately for me I have no fulltime job currently.  Just part time . 

my questions are how do I pull out equity from these condos ? Would any mortgage broker lend me money if I have no job to purchase a third property for rental . 

I have good credit score and down payment for a third property.  


What are question I needto ask ? Any advise or feedback is greatly appreciated . 

Justin

Most Popular Reply

User Stats

29
Posts
19
Votes
Maggie W.
  • Rental Property Investor
  • Los Angeles, CA
19
Votes |
29
Posts
Maggie W.
  • Rental Property Investor
  • Los Angeles, CA
Replied

@Justin Chang I once had the exact same problem! Tons of equity and no paycheck. No one would work with me. I had to sell one to get the cash out. Hope you find a better solution than I did!

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