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Updated almost 4 years ago on . Most recent reply
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Recommended ways to access equity in investment properties
Questioning if I am going down the right road to expanding my portfolio. I have a couple of investment properties with a lot of available equity. They are cash cows with low interest rates mortgages. So I don't foresee selling as a good option. With the current prices in the market being so inflated I'm not sure about doing a cash-out refi seeing as I might be sitting on cash for a bit until the next good opportunity comes up.
Therefore I am in the process of trying to find a lender to do an investment HELOC. My vision is to use this HELOC for a down payment on future purchases.
Wondering if my approach is the best way to get access to the equity in my properties. If I do get multiple HELOCs do I run the risk of having issues getting loans because of DTI or something else.
Just making sure I am not leading myself into a trap trying to get some more cheese.