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Updated over 8 years ago on . Most recent reply

Susan Michael's profile image
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Susan Michael
  • Investor
  • from Glen Ellyn, IL
  • Member since Oct 23, 2016
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Susan Michael's profile image
Susan Michael's profile image
Susan Michael
  • Investor
  • from Glen Ellyn, IL
  • Member since Oct 23, 2016
Connect
Susan Michael
  • Investor
  • Glen Ellyn, IL
0
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14
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General Real Estate Investing

Use Equity from Out of State Property?

Susan Michael
  • Investor
  • Glen Ellyn, IL
Posted

Hello all and thanks for any help you can provide. My husband and I rent out a single family house in Florida worth about $400k, with a mortgage of just under $80k. We would like to purchase a property in Illinois (where we currently live) to either flip or buy & hold--undecided at this time. Are there restrictions against using the cash pulled from a Florida property to purchase something in Illinois? I just don't know the "rules" yet. Thanks!

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