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Updated about 6 years ago on . Most recent reply

User Stats

16
Posts
10
Votes
Sarah Lyon
  • Rental Property Investor
  • Raleigh
10
Votes |
16
Posts

Getting a 2nd mortgage for a third property

Sarah Lyon
  • Rental Property Investor
  • Raleigh
Posted

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!

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