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Real Estate Deal Analysis & Advice
HomeForumsReal Estate Deal Analysis & AdviceBest Option for Financing 2nd SFR. HELOC?
Brad Davis's profile image
Brad Davis's profile image
Brad Davis
  • Real Estate Investor
  • from Cincinnati, Ohio
  • Member since Aug 2, 2014
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Brad Davis's profile image
Brad Davis's profile image
Brad Davis
  • Real Estate Investor
  • from Cincinnati, Ohio
  • Member since Aug 2, 2014
Connect
Brad Davis
  • Real Estate Investor
  • Cincinnati, OH
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9
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Real Estate Deal Analysis & Advice

Best Option for Financing 2nd SFR. HELOC?

Brad Davis
  • Real Estate Investor
  • Cincinnati, OH
Posted Sep 26 2014, 19:57

Hi all. I have 1 SFR and I want to purchase another. I want to know what is the best way to finance the second one without using any of my personal funds.

I do have 60,000 in equity in my first rental so a HELOC is possible. I have excellent credit and have a W-2. The LP on the property is 36k but I want to leverage as much as possible. Do I need to go to a portfolio lender or will my traditional big bank give me a mortgage?

Also if you're in Cincinnati feel free to connect with me I'm looking to educate myself and learn from people smarter than me :)

- Brad

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