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Updated over 1 year ago,
financing more rental
I have a personal home with 350k of equity and one rental with 110k of equity. My goal is to retire using rentals as vehicle to do so. My goal is also 7 years away. I want to purchase more rental property. How would you do this? I don't have capital except for what are in these two properties. Would you refi or heloc/loc the homes to put down payments on other properties? Then have essentially 2 loans on other properties? My salary is teaching salary and I don't know another way to grow my rental portfolio.