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Updated over 2 years ago,

User Stats

203
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87
Votes
Mario Morales
87
Votes |
203
Posts

How to leverage equity-HELP

Mario Morales
Posted

I just got a multi-unit and it just so happens that it requires a bit more cash, such as plumbing, electrical etc,. I have two other buildings, and I have a high amount of credit card debt (over 50k) due to the unforeseen surprises of the latest building. I would like to pay off the debt but I would also like to tap into the equity of one of the buildings for my next purchase. Any advise. 

building 1: available equity 110K , monthly cash flow about 1100

building 2: available equity about 50K, monthly cash flow about 700

building 3: under renovation, monthly negative 1600

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