Just renovated our first property (our first home).
Property currently has main house, mil suite, and duplex on one title. In the process of subdividing duplex and land into separate title. Plan is to refinance on main property and pick up duplex for free.
Original Loan amount 121.5k
Overall equity gain about 175k
70k on new duplex value
105k on house value
Will have mortgage on main house. Currently both properties under my LLC (hard money) going to get traditional mortgage in my personal name.
How can I use both equity from house and duplex most efficient to reinvest? Should I take out max mortgage and reinvest or take out heloc or combination?
@Dillon Seal , first understand the profitability of each property. Make sure they will cash flow / support themselves with 75-80% LTV. If so, refi and use the cash to acquire more properties. If not, make a determination as to whether they should be long-term holds at all.
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