Most commercial loans are based on income. 

Go into any conversation with a potential lender knowing what you want, like a 15 or 30 yr amortization, 75% LTV cash out, minimum loan value etc. 

You may want to explore cashing out, and structuring a reasonable loan term with your current strategy in mind.

I would just do a cash-out refi with a 30 year loan.

So I started trying to get creative on how to create a win-win-win for all.Here’s how it went down:I got the sellers to agree to an asking price of $180k, a full $40k over what they originally wanted.In the offer, we included a seller credit of $34k.This strategy allowed me to cover the extra commission for both the buying and selling agents and ensure the seller got exactly the cash they wanted should they have sold it at 140k.With the seller credit, this reduced my total out-of-pocket expense to just $6k.I used a commercial DSCR loan product with a local bank.

After listening to the podcast for over a year and finally graduating from college with no debt, I think it is time to take my first step into buying my first property by the end of 2024!

Are there other types of loans people use to pull equity from their rental to purchase additional properties? 

You can do a ‘cash out’ refinance on the rental home as a permanent fixed 20-25-30 year loan to pay off the Heloc on the primary and most likely the equity line on the primary permits a ‘re-draw’ to utilize again. 

Look at fourplexes.I think we now  have Fannie loans (in addition to FHA) that cover owner occupied multi-family!

The new builds in the outskirt towns are fine and if you buy with a primary loan, you can get a great interest rate.