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Updated over 2 years ago,
How To Use Property Value As Down Payment For Another Property?
If I was to purchase a commercial property lets say for $600,000 and put 20% down payment of $120,000. (Property A)
When I buy another property for $600,000, (Property B)
How would I use the first property as down payment for the second property?
1) Can I use (Property A) full value $600,000 as down payment/collateral for (Property B)?
2) Or do I use the equity in (Property A) of $120,000 as a down payment/collateral for (Property B)?
3) Or can I do both?
Can someone please explain to me how this works in detail? Thanks so much