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Updated over 2 years ago on . Most recent reply

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Justin Cain
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2
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Pulling out equity to buy multiple homes

Justin Cain
Posted

So I own my house and want to pull out as much equity as possible to buy multiple homes. My question is will I be able to do this while working A salary job at Amazon and having poor credit right around 600? I should be able to pull out around $350,000 so will I be able to purchase a few homes with 20% down on each? How exactly does it work do I have to show proof that if I’m renting them it will cover the mortgage and all other fees? Or am I going to have to show that I make more money and improve my credit first? 

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165
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137
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Maksu Ize
  • Investor
  • Vancouver
137
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165
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Maksu Ize
  • Investor
  • Vancouver
Replied

Step one, contact your bank and get pre qualified for your loans. You haven't even scratched the surface of research.

Step two, wait for a year or two until interest rates peak, buying right now would be a very poor decision

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