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Updated over 10 years ago on . Most recent reply

User Stats

33
Posts
6
Votes
Amy Colin
  • Flipper/Rehabber
  • Edmonton, Alberta
6
Votes |
33
Posts

Pulling equity from Houston rentals as Canadians

Amy Colin
  • Flipper/Rehabber
  • Edmonton, Alberta
Posted

Hi everyone, new to the site and hoping someone can help.

We own two rental SFH in Houston. Both are free and clear, both are worth about $50,000.

We'd like to pull the equity from these properties so we can purchase more real estate. We're having a hard time finding non-hard money sources. The problem is threefold: 1) the value of the properties is relatively low 2) these are rental properties and in Texas conventional refinancing for investment properties is difficult 3) we are Canadians without any American credit history.

Any advice on where to go?

Thank you!

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