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Updated almost 8 years ago,
Buying another rental property
My primary home mortgage is on my wife name and I am in the title. Me and my friend own an rental property next door. Now we have equity on rental property almost 150k and home price/worth (low est) is 335k. Now if I apply for HELOC for rental I am getting only $25k money from wellsfargo. Because to buy new property I need 20-25% down payment. Also I want to buy with in my city.
1. My question is how to maximize the HELOC? Any bank or alternatives?
2. Is there any way I can buy another home as primary home ?
Thanks
Vel