Pulling out equity from multiple properties

[Abraham Saldana]

Hi everyone,

I am making the jump into apartment complexes and I am having (typical) newbie issues of raising funds to purchase.  I was wondering if anyone was able to pull equity from multiple properties all at once?  I have enough equity in 5 of my properties to put the down payment on the apartment complex I am looking at without any outside help.  I would love to be able to leverage my own equity to finance this project, but short of doing 5 HELOCs, I am unsure of how to proceed.  Any thoughts would be appreciated!

[Bob Green]

Hello Abraham,

You may be able to refinance all 5 properties under a blanket loan structure and take cash out for down payment or cross collateralize all 5 with the purchase of the apartment complex.  What are the 5 properties valued at, estimated pay off amount, and what is purchase price of apartment?