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Jamaar Brown's profile image
Jamaar Brown's profile image
Jamaar Brown
  • from Virginia Beach, VA
  • Member since Nov 10, 2017

User Stats

26
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6
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Jamaar Brown's profile image
Jamaar Brown's profile image
Jamaar Brown
  • from Virginia Beach, VA
  • Member since Nov 10, 2017
Jamaar Brown
  • Virginia Beach, VA
6
Votes |
26
Posts
Private Lending & Conventional Mortgage Advice

Take equity out rental to buy another

Jamaar Brown
  • Virginia Beach, VA
Posted

Hello everyone and happy new year.

My question is I own a rental house in Anchorage, Alaska, but I just moved to Virginia Beach, Virginia, where I purchased another rental. Now I want to take the equity out the Anchorage house and buy another house here in Va Beach. From my understanding the heloc can’t be done because that’s only for primary residence. Does anyone know a bank that will give me a line of credit so I can put a deposit on another house?

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Sovat C.'s profile image
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Sovat C.
  • Rental Property Investor
  • from Rockville, MD
  • Member since Dec 27, 2015

User Stats

59
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22
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Sovat C.'s profile image
Sovat C.'s profile image
Sovat C.
  • Rental Property Investor
  • from Rockville, MD
  • Member since Dec 27, 2015
Sovat C.
  • Rental Property Investor
  • Rockville, MD
22
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59
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Sovat C.
  • Rental Property Investor
  • Rockville, MD
Replied

@Jamaar Brown Penfed if you have less than 4 properties. 

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