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Updated over 9 years ago on . Most recent reply
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Cash for down payments
I am a newbie real estate investor and in my first year have purchased, rehabbed, and established steady cash flow on 4 units. I want to continue adding units and my ultimate goal is to get to 12. However, I am running out of cash for the 20% down payments. For my owner occupied home, I have 33% equity plus value of the home per zillow's zestimate (which i know is not entirely accurate) is 21%. I am trying to decide on whether my best course of action is:
1. Sell my home, take back equity plus gains to purchase more units while living with family for short period of time.
2. Cash out refinance
3. Home equity line
I am looking to hear what people feel would be my best course of action based on the above described situation. I appreciate all of the assistance in advance. Thanks again!