Leveraging Free and Clear Properties

[James Ford]

Wanted to get some advice from others on how best to harvest equity of single family homes that are currently free and clear of all debt. We would like to use these funds to help us grow our portfolio but have not been able to find a good site with details on lending for investors. The majority of lending sites seem to cater to home owners. The other question is whether or not we should use a HELOC, refinance, or use a combination product that fits in between with 15 - 20 yr terms. Our goal is to get the maximum cash for the longest term. Any thoughts or recommendations would be greatly appreciated.

[Alexander Felice]

You should have no problem finding a cash-out refi for both those homes as long as they are over 50k

do 2 30 year notes and take out as much as you can (cash flow providing). HELOC will be harder on non-primary residence and a commercial loan would work but crush your profitability for no real gain.

call a bundle of lenders until you have some options.