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Updated over 6 years ago,
How to maximize rental equity usage.
Hey,
First time posting on BiggerPockets. Been voraciously listening to the podcasts. I got lucky buying a foreclosure which I sold for a stupid amount and put into a duplex. I am incredibly interested in ways to create financing. What questions should I be asking local banks about financing? How can I fully utilize equity in my rental properties? Thanks for this amazing resource!
Ben
One option, depending on how many properties you have, is to do a cash out refi into a single umbrella loan. Combine all your properties into one and take out that equity and go buy more! They will probably put it under a commercial loan, so you'd be looking at probably a 20yr Amm, maybe you can sweet talk em into something longer. And interest rates right now with the Fed increasing again will be in the 6's or so.