Asset based loans vs Equity loan vs Mortgage?

[Brian Price]

I purchased a duplex last month for $230K cash which is now generating $3,225 before tax and Ins. I also have a townhouse with no mortgage that rents for $1,300/mo. What’s the best way to go about getting more money to invest?

I have no current income and no tax returns for the last 2 years. My primary is worth $320K with a $150K mort. at 6%.

Paying cash was probably not a great idea but I was able to close quick which actually put me in front of other buyers with higher offers. Plus I’m estimating the property is worth $40-$65K more then what I paid.

With the equity in my primary and two investment units with no mortgages, I figured it would be easy to get cash/loan to invest in more properties. I’m just not sure of the best route to take. Also Credit Karma has my scores at 747 and 754, if that matters.

It might be worth mentioning that I sold my commercial property/restaurant last year and I have partnered with a developer. Together we have purchased 5 parcels of land valued at $300K with only $75K of that on a Mortgage. Also there’s $250K dedicated for operating funds. We are in the process of being approved for a $2.5m construction loan.

Thx BP