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Updated over 8 years ago on . Most recent reply

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16
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Bradley Adams
  • Investor
  • Folsom, CA
1
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16
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Pulling cash out of investment property for a downpayment

Bradley Adams
  • Investor
  • Folsom, CA
Posted

Currently my wife and I own 3 properties.  One is our primary residence with about $50,000 equity.  Another is a duplex that we rent out both sides with about $650,000 equity and a 4.79% rate on the mortgage, the third is a cabin that we do vacation rentals on that we own free and clear.  I am looking for the best way to pull cash out for a downpayment on another rental property.  I am either looking to do a brrr in my area of the Bay Area in CA or to buy a turn key property in the Dallas Texas Area.  I am currently selling my business that is finally cash flowing this year but not a lot of income on taxes, my wife has a good salary and we both have excellent credit scores.    

  • Bradley Adams
  • Most Popular Reply

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    Chris Mason
    • Lender
    • California
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    Chris Mason
    • Lender
    • California
    ModeratorReplied

    @Bradley Adams - Pulling $250k out of the duplex will set you back about $1300/month. Will that duplex still be a money maker at that point? 

  • Chris Mason
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