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Options for pulling equity out of rental property for purchase
I just got wind of a 4 unit property that hasn't hit the market yet. I don't have the cash required, so I'd have to finance. I'm looking at what options I have to pull equity out of other rental properties I have.
Does anyone know of investor-friendly lenders that service the San Antonio / South Texas area and will allow home equity loans or HELOCs on rental properties? I'd rather not do an entire cash-out refi because I have a much better rate on the property than I could get today.
With a 70% LTV planning factor, I'd still have plenty of room for the cash I'm looking for to make the down payment (~125k).
Thanks for any help/advice!