All Forum Posts by: Kevin F.

Facts:

Rental 1: House Worth --> $1.2MM.   Loan amount remaining --> $650K.    Equity. --> $550K.  Interest rate --> 3.2%

Rental 2: House Worth --> $550K.       Loan amount remaining --> $390K.    Equity. --> $160K.  Interest rate --> 6.3%

Primary Residence House Worth --> $1.5MM.  Loan amount remaining --> $1.1MM.   Equity --> $400K.  Interest rate 4.9%

We are two people who in a weird way, fumbled our way into becoming rental property owners. Rental 1 was our primary until we moved states a couple of years ago and decided to keep the property as it was our first home. We have a 3.2% rate and the house cash flows about $1,000 per month on top of building some solid equity. Rental 2 was bought a year later and is about even on cash flow (equity play over time). 

My question is simple ... as a COMPLETE beginner, what are my options to tap into and use the equity from any of the above properties to finance incremental rental properties instead of using W2 capital? I appreciate any help. I tried to include all the basic info but if I omitted anything that will help you share even an ounce of wisdom, please do let me know.