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Updated about 7 years ago on . Most recent reply

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Abhra Mukherjee
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Heloc vs Hard Money

Abhra Mukherjee
Posted

Hi Everyone.  Looking for advice and appreciate any inputs greatly. 

I am looking to buy a 2 family rental in Manville NJ. The price is $250,000 with a monthly rent of $2800. The house is in good shape and needs no Capex / immediate repairs. I will need 25% down payment $62500.

I own a multifamily as my primary residence ( live in one and renting the other one). The Appraised value of the house is $400,000 and the I owe $322000. 

Can i get a HELOC? If not Hard Money for the down payment

Thanks

Abhra

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