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Updated about 10 years ago on . Most recent reply

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Robby Satram
  • Beverly Hills, FL
4
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Buying second house to rent

Robby Satram
  • Beverly Hills, FL
Posted

how to buy second house to rent it out,have 100 procent equity in first house,please advise

Most Popular Reply

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Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
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Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
Replied

So you are saying your primary residence is completely paid off? 

Well, you can either pay all cash for your 2nd home, you can do 20% down bank financing if you qualify for financing.  If you qualify but dont have the funds to put the 20% down you can put a line of credit against your primary that is paid off and use those funds for the down payment.  

Good luck

  • Curt Davis

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