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Updated about 6 years ago on . Most recent reply

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7
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1
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Heather M.
1
Votes |
7
Posts

Pulling equity out - is it possible?

Heather M.
Posted

We currently own 5 properties, all have equity  with less than 80:20 loan to value.  One inpaticular has 30% loan to value currently.  We live minimally off the income they generate currently on a sailboat.  would ideally like to pull some equity put in order to fund additional investments.  All 5 properties generate an income above all expenses including mortgage equity payment.  That said our income overall is around 30k and no bank will loan us money.  Is there a creative way to pull out the equity?  We can grab a job for a bit to continue outback investing / if need be... but wanted to ensure im not missing something.  

Or point me to a good article /blog!!

Thanks in advance for your time and knowledge.

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