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Updated over 8 years ago on . Most recent reply

User Stats

33
Posts
9
Votes
Chris Shuptar
  • Investor
  • Naperville, IL
9
Votes |
33
Posts

Question about using equity.

Chris Shuptar
  • Investor
  • Naperville, IL
Posted
I'll try to make a long story short. I own a townhouse that I have rented out for two years. Cashflow is great. I have about $100,000 of equity in the property. How can I use that money to finance the purchase of another property? Additional info: I use a series LLC for my two rental properties. Apparently, banks will not do a home equity line on a property that is not owner occupied. Is all that equity just trapped?

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