Taking out a loan on property I bought with cash

[Kate B.]

I now own three properties, the last two purchased with cash and the first has a paid off mortgage.  The first was my primary and the next was my second home and the third is a multi family and I live on the first floor.   I alternately think about selling or renting one or both of the first two properties.  One thing I have not spent enough time considering is trying to take a loan to get the cash out, then renting.   Is this possible?  What type of loan?

Thanks.

[Arlan Potter]

absolutely. Leverage the free and clear properties to buy more. Then let the renters pay off your new loans.   I would contact a local bank for a commercial loan.