Updated about 4 years ago on . Most recent reply
Lender suggest pay off rental property with my house equity
Looking for my first small multifamily rental, my lender has suggested me to use the equity of my house to pay in total the SMR and therefore just to have a mortgage on my house. Is it a good idea? And then, since the SMR is going to be paid off, get another home equity loan -since duplex, triplex and quads are considered residential property- to make down payments in more SMR?- Thank you,Newbies in long term buying and hold.