All Forum Posts by: James Bryson

I'm in the same boat trying to figure out how to finance 2nd purchase. Recently inherited my dads home, which was paid off. Currently have it rented for $1400/ month. Wondering if I should take out an equity line on it to buy a 2nd rental property outright or just take our enough for the down payment and mortgage the rest. Not trying to hijack the thread but our questions are similar

Recently inherited a 3 bedroom 2 bath house after the passing of my dad. Own the house free abs clear. It's currently rented and generating positive cash flow. But now I'm considering purchasing 1 or 2 town homes in a college town to rent out and trying to decide if I should mortgage the rental home for the down payment on the prospective rental properties or figure some other method of financing the purchase of the other properties.