Leveraging Paid off Rental Homes
I don't consider myself a RE Inv. but by accident, I have two paid off rental homes. How should I use them to grow my RE portfolio? Should I do a home equity loan, a HELOC, or both to leverage them and use the equity to grow my RE portfolio?
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Lots of great suggestions and advice above.
The only thing I would add would be if you are looking to do the BRRRR method you can also look at lenders that will do cross collateralization. This will allow you to purchase the new properties and get them fixed up and rent ready and then refinance them without having to get new loans on your existing properties and then loans on your new properties all while you grow your portfolio.