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Updated over 9 years ago on . Most recent reply

User Stats

50
Posts
11
Votes
Devang Patel
  • South Plainfield, NJ
11
Votes |
50
Posts

Cash for down payments

Devang Patel
  • South Plainfield, NJ
Posted

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!

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