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Updated over 1 year ago on . Most recent reply

Vy Mai's profile image
Vy Mai's profile image
Vy Mai
  • from Andover, Massachusetts
  • Member since Sep 15, 2015
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103
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Vy Mai's profile image
Vy Mai's profile image
Vy Mai
  • from Andover, Massachusetts
  • Member since Sep 15, 2015
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Vy Mai
  • Andover, MA
13
Votes |
103
Posts
Buying & Selling Real Estate

Home Equity Loan

Vy Mai
  • Andover, MA
Posted

So we took out home equity loan from our main residence to buy a rental property.  Can I really take out home equity loan from our rental property to buy another rental property? I've read of it but I'm still not believing that it's possible and real?

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Maxwell Anyimah-mensah's profile image
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Maxwell Anyimah-mensah
  • Rental Property Investor
  • from Lynnwood, WA
  • Member since Oct 21, 2015
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Maxwell Anyimah-mensah's profile image
Maxwell Anyimah-mensah's profile image
Maxwell Anyimah-mensah
  • Rental Property Investor
  • from Lynnwood, WA
  • Member since Oct 21, 2015
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Maxwell Anyimah-mensah
  • Rental Property Investor
  • Lynnwood, WA
21
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45
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Maxwell Anyimah-mensah
  • Rental Property Investor
  • Lynnwood, WA
Replied

Yes...
That's the current strategy that I have been using... Bought rental properties that way last year... About to apply for a Heloc on the newest property to buy the next one... It depends on the banking institutions... So I find it best to work with local credit union.

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