After I purchase a property cash (for it's initial advantages), what is the best way to finance it in order to get my ROE right and more so my cash back for further investment? Is a HELOC the only way? I look forward to the money/mortgage lenders on BP for answers, but welcome anyone's experience as well.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
5y
@Kenneth Veiga yeah, you just refinance it. That's all. Now some loan types will have restrictions on it and some lenders will have restrictions as well. So depending on what you qualify for might affect what you can receive. Just identify some good "real estate friendly" lenders and you'll be ok. I wrote an entire post on how to do just that which you can read HERE. Identifying good lenders is key. I also think getting a Line of Credit is a reasonable option depending on how you use it but just receiving an regular old fixed rate loan is a pretty simple enough way to go. Feel free to ask anything else if you need. Thanks!