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Updated over 19 years ago on . Most recent reply

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Financing my first deal

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I've lined up my first property that will cost me $85,000. I'll be putting down 20%. This is a 3 unit property and it will not be owner occupied. I have about $350k in equity in my primary residence. Should I just pull out some of the equity from my house to buy this place or should I get a separate mortgage for it - knowing that since it's not owner-occupied I'll be paying a higher interest rate?

Thanks
-MM

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