I need some input! Any feedback would be appreciated!
Okay so here is my situation, I just closed a deal on my second investment property. Both of my properties are paid for and I have my home that I just bought about 7 months ago that me and my family stay in. I have the opportunity to purchase my grandparents home for 30k and the fair market value on it is around 140k. The issue is that I know my bank probably won’t let me keep my current home and purchase my grandparents home do to the whole “DTR”. So my question is would it be smart for me to just try to sell my home and buy there’s then draw out the equity to purchase more property?? And if so what banks do you recommend for equity loans?