Renting or Flipping?

Renting or Flipping?

Member since 2019 · 1 post · 1 vote

Hey guys,

I was recommended to this app by a customer and I’m glad I downloaded it. For the past year me and my wife have been planning on buying an investment property. The biggest hurdle besides time and having two young children (2years old n 4), is coming up with a down payment for our first investment property. I own a home that has 70-80k equity in it currently. Is there a way for me to get a second property with zero down? Do I need to speak with the right banker? Do I have to sell mine in order to take the cash out then re buy another home and keep some for an investment? Any thoughts would be much appreciated. Of course I have a million more questions but this one seems to be the most important for now lol. Thanks

1Reply
17 views

1 Reply

Jump to latestLatest
  • Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    7y

    @Joshua Dennison

    You can consider doing a cash out refinance. If you have a single Primary home you can cash out refinance at 80% LTV. Rates are really great right now, so you may be able to reduce your rate, depending on when you purchased.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.