use free and clear house to buy another rental property

[Christina Venegas]

is is possible or is there a way to use my paid off rental house and get a loan with it. I have a free and clear house that is worth around 80k and want to use that house as collateral to have access to funds for down payment and purchase another property

[Denise Supplee]

Yes, it's definitely possible to use your paid-off rental as collateral to access funds. You might consider a cash-out refinance or a home equity loan or line of credit (HELOC), which lets you borrow against the value of your property. This can give you the cash you need for a down payment on another investment. It's a smart way to leverage your existing asset without selling. Talking to a mortgage broker or lender experienced with investment properties can help you find the best option.