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Updated over 1 year ago,
Cash Out Refi or HELOC on an Investment Duplex in Florida
My brother and I own a duplex in South Florida with both sides currently rented out. We currently owe about $15K on the property and Redfin estimates the value at roughly $650k.
So we have a good amount of equity we'd like to get out and use for another investment purchase.
I've historically been able to get HELOCs for single-family investment properties, but it's been difficult finding a bank that offers HELOCs or cash-out refinances on multi-unit investments.
Does anybody know of a bank that would offer either option for us? Thank you.