Paying full amount with cash and then refinancing

[Jessica Piff]

Is it possible to buy a multifamily outright with cash and then heloc it to recoup your money for the next investment?

[Peter M.]

@Jessica Piff You can get a line of credit on rental property in the form of a second lien deed of trust (at least thats what they are called in Texas). Everyone on BP throws out the term HELOC but it is a specific credit line based on a personal home usually for making improvements or putting in a pool. A bank can give you a line of credit based on any form of collateral they deem worthy. I could go out and get a line of credit on a fleet of 747s and people on BP would call it a HELOC. It may be difficult to finance something like that but I'm sure its doable. Just gotta find the right bank and terms.