Depending on the situation, there are some other techniques that don't involve as much digging. 

Seller “Refi” for TakeoverThis no-money-down technique is as amazing as it is simple.

I'm trying to open up this discussion in terms of both good and bad...After speaking with a few people and lenders on acquiring money for a down payment on a multifamily property, a secured personal loan came up as an alternative to coming up with enough money for part of the down payment (oh, say $10,000).That means:> Secured personal loan (putting a lien on a car as collateral) worth $10,000 at terms of 4.25% APR over 5 years. - Total Down: $20,000> A mortgage for $102,000 @ 5% over 30 years , meaning a monthly PITI of about $800> 2 Duplexes (4-plex) with total monthly income of $2,400 *these numbers are somewhat irrelevant to the question, but is just an attempt at giving real world data*The question is: with the acquisition of another mortgage, what are the upsides and downsides of acquiring a secured personal loan as well?

Hi @Chris Anderson,The Black Diamond REIA is in Waltham and alternates monthly meetings between Waltham and Worcester.

It's actually cheaper or the same cost as a lot of alternatives.

However, many circa-1900 midwest houses, as an example,  originally had painted, Southern yellow pine floors -- faux and decorative floor paint techniques were not at all uncommon in lieu of more expensive materials.

the HELOC will be based on appraised value...appraisals are hard to predict, but you have a huge equity position...so even if it comes back conservative, you should be good...credit unions are your best bet...better on fees and higher LTV....but you should shop to confirm.The alternative for you is putting a loan in place and using the delayed finance exception...try to take cash out.

As another alternative, buy another property so that the value of the two together totals more than $75K (should be pretty easy), and get a blanket mortgage which covers both properties. 

To get to the point, I’d like to refinance and move the money to other properties but I’m not sure if my credit is strong enough for a conventional loan but I’m not fully versed in alternative financing options. 1.

Then we sold our expensive stuff (replaced cars with cheaper alternative, cancelled subscriptions, etc), rented our primary home, moved into a cheaper apartment, bought a duplex and then a SHF to fix and rent and we went from there acquiring properties, living in them and eventually renting them out for passive income.