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Updated over 9 years ago,

Robert K.'s profile image
Robert K.'s profile image
Robert K.
  • from Cedar Lake, Indiana
  • Member since Jul 8, 2012
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Robert K.'s profile image
Robert K.'s profile image
Robert K.
  • from Cedar Lake, Indiana
  • Member since Jul 8, 2012
Connect
Robert K.
  • Cedar Lake, IN
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General Landlording & Rental Properties

Using line of credit on a rental property?

Robert K.
  • Cedar Lake, IN
Posted
I purchased a house for $25k that is valued around $60k. I had some extra appliances and paint etc to clean it up, and currently have it rented out. Am I able to do a line of credit for this property (it is paid off) or a 1st mortgage so that I can use it for a down payment for a multi unit property? Thoughts on this approach?
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