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Updated over 1 year ago,
Using equity from an investment property to invest in a flip
I recently refinanced a rental property for $1,050,000, leaving 45% equity in the property.
I want to find a way to use the equity as collateral to buy, renovate and sell more properties. Are there any lenders out there that would fund a flip using the equity from the rental property I have?
Or is there some way to get a HELOC so I can use the equity to make more investments?
I didnt want to leave so much equity in the property during the refinace but it was the only option I had. I will look at refinacing again in 5 years to take cash out but I would like to find a way to utilize the equity to invest now.