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General Landlording & Rental Properties

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Robert K.
  • Cedar Lake, IN
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Using line of credit on a rental property?

Robert K.
  • Cedar Lake, IN
Posted May 22 2015, 11:21
I purchased a house for $25k that is valued around $60k. I had some extra appliances and paint etc to clean it up, and currently have it rented out. Am I able to do a line of credit for this property (it is paid off) or a 1st mortgage so that I can use it for a down payment for a multi unit property? Thoughts on this approach?

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