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 5 years ago on . Most recent reply

User Stats

4
Posts
0
Votes
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!

Loading replies...