Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
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 almost 8 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Torrance, CA
1,208
Votes |
724
Posts

Pulling equity out of rental property to buy personal residence?

Account Closed
  • Rental Property Investor
  • Torrance, CA
Posted
My fiancé and I have decided that we eventually want to own our own home within the next 5 years. I know the whole a home is not an asset argument, and I agree. But it would be better for our particular situation. Where I'm torn is the down payment. I don't want to use hard earned money for the down payment that could be put to better use buying more rental properties. The thought of saving up $60,000 and using it to buy something that doesn't produce a monthly return does not sit well with me. I'd like to pull equity out of my duplex and use that as the down payment on our house. I have approximately $162,000 in equity and an LTV of 55%. It would still cashflow fine with a higher payment. Will banks let me do this?

Loading replies...