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Updated over 7 years ago,
How to tap into approx $1 million in investment property?
Hi Folks,
I am interested in taking equity out of my investment property, currently ~$1,300,000 market value with a $310K mortgage = ~$1,000,000 equity, and putting it to work by purchasing another similar, 3 family building. If this is doable, can you tell me what products I should look into? How much I can take out? How can I maximize this limit? Is it possible to purchase with 0% down?
Ideally, I would like to purchase another 3 family $400k-$500K in Boston for little to no out of pocket.
Is this feasible?