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Updated over 3 years ago,
1st rental property financing
I currently live in my home that is worth $245,000. I have about $100,000 in equity. I’m not sure how I can best use the equity to start buying rental properties. I have a 30 yr conventional loan at 4.25%. I’ve had the house for 6 years. Mortgage payment is $1200. The estimate of what I could rent my house for is about $1600. Any advise or direction would be appreciated. Thank you.