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Updated almost 6 years ago,
Heloc vs Hard Money
Hi Everyone. Looking for advice and appreciate any inputs greatly.
I am looking to buy a 2 family rental in Manville NJ. The price is $250,000 with a monthly rent of $2800. The house is in good shape and needs no Capex / immediate repairs. I will need 25% down payment $62500.
I own a multifamily as my primary residence ( live in one and renting the other one). The Appraised value of the house is $400,000 and the I owe $322000.
Can i get a HELOC? If not Hard Money for the down payment
Thanks
Abhra