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Updated almost 6 years ago on . Most recent reply

User Stats

26
Posts
12
Votes
James Cox
  • Specialist
  • San Marcos, TX
12
Votes |
26
Posts

How to tap equity with poor income

James Cox
  • Specialist
  • San Marcos, TX
Posted

I have approximately 250-300k equity in 3 properties and need to get 25k out for a down payment on a house that sits ajacent to us and just came up for sale. We’ve been fantasizing about buying this house for years now.  We have good credit but poor income (lots of write-offs) We’re looking at cash-out refng our primary res but it’s looking like our income may not even allow that. Surely there’s something I’m not thinking of. Any bright ideas?

Most Popular Reply

User Stats

532
Posts
466
Votes
Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
466
Votes |
532
Posts
Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
Replied

Heloc

Private loan

Hard money loan

Sell a car

Salary advance

Cash out vacation/sick leave 

Second job

Refi properties to payoff one and lower debt ratio

401k loan

Sell something

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