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Updated almost 6 years ago, 02/11/2019
Getting a 2nd mortgage for a third property
Hello BP community,
I am a Raleigh, NC resident currently working towards purchasing my first duplex and though I am still far from making my third investment, I am curious - would I be able to get a traditional bank loan off the equity of my (future) duplex plus the equity from the single family home I have paid off or should I find another option for financing? And if I should find another financing option, what are some good options?
I plan to buy a short term rental in the North Carolina mountains next, but it will definitely be a bit down the road.
Thanks everyone!