All Forum Posts by: Nick D.

A blanket loan would be a good way to spread the equity however it would limit your ability to easily exit one property without restructuring your loan. You may be better off refinancing with a cash-out mortgage and then financing the new property.

0 Votes

Hartford, Connecticut

Hi, long time follower, however not too much on posting.

Goal: I’m looking to purchase a 3 family property in central CT.

Position: Currently I own two condominiums that are under an LLC. Both will appraise around 180-200k each. Both are rented. One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.

My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

Any advice, guidance is greatly appreciated!

3 Votes

Hartford, Connecticut

All Forum Posts by: Nick D.

Nick D. has started 1 posts and replied 3 times.

Post: Pulling equity out of investment properties under LLC for a DP on a 3-family

Post: Pulling equity out of investment properties under LLC for a DP on a 3-family

Post: Pulling equity out of investment properties under LLC for a DP on a 3-family