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Updated over 5 years ago,
Best way to Borrow against a rental?
I have a 8 unit multi family property.
1 single family home
2 duplexes
3 mobile homes all on 2.5 acres of land.
Grosses $6500 a month.
I own the property free and clear. I’ve had it for almost 3 years. Excellent rent history, rarely a vacancy. I would estimate its value at $500,000.
My question is what is the best way, and easiest way to borrow money against this property? I am needing the capital to help expand another business that I own that is exploding. Thanks in advance!