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Updated over 4 years ago,
How do I make sense of a Home Equity loan?
I roughly have about 150k-175k in equity on my duplex that I owner occupy. I have talked to a few loan agents and can't make sense of how an equity loan would help. My initial duplex loan would go up (because they would combine my current mortgage with my equity loan amount) thus canceling my cash flow from my duplex. I want to buy a new investment property, I'm just struggling to get my second property (mostly interested in multifamily). I need help figuring out how use the equity. Any good thoughts or suggestions would be greatly appreciated.