Financing Options Using Equity

[Michael Osborne]

I currently own a rental property that is worth about $65k that is fully paid off. I would like to purchase another one for about $60k. I have $30k to put down and would like to use the equity in my current rental to fund the rest. What is the best way to accomplish this while limiting the expenses associated with accessing the equity? 

[James Thomas Nakashian]

Michael Osborne Your Best options are A. HELOC (Home Equity Line Of Credit). Or B. Cash out Refinance. Both of these will keep your costs down for expenses and will enable you to get some cash to put down for your next investment. I would reach out to your CPA or if you don’t have one A CPA. So that you know what YOUR best option is for yourself.