How to Use 1st property equity to fund 2nd deal
Hey guys. i have 1 rental property that has 25% equity, about 25k realistically. I know i cant do a cashout refi, however is there a way i can utilize this to fund a 2nd property? how would i be able to use it with a private lender to make them feel more secure about a loan on a new property?
I know i might not have enough equity to use it yet, just wondering what the possibilies were. Thanks!
Steven