Best Way To Pull Money Out Of Property

2 Replies

Hey! So if I have a property, let's say the purchase price was $25,000 and it was bought with cash so fully owned. Then has appreciated to $100,000 now, what are my options to pull cash on this.

The reason for pulling the money out is for other ventures/investments. But the last thing I want to do is sell because the tenants are family members. Maybe some sort of fixed HELOC? and use the rent it is pulling to cover those monthly payments.

Wondering if there are any other options out there I am blanking on...

Any help is appreciated!

@Jon E. Like Brian mentioned, a HELOC or Cash-out refi. Where to go for that depends on your creditworthiness and other factors (personal income/DTI), how you own the property (is it in your personal name or an LLC), when did you purchase it--less than 6 months ago? more? etc..

You can try to go conventional, to a community bank/portfolio lender, or to a non-bank lender for the above.