Updated almost 5 years ago on . Most recent reply
Accessing Equity in an Investment Property
Hello Bigger Pockets community! I am looking for some guidance to fund my next deal. I am a relatively new investor. I purchased a duplex as a house hack in July 2019 and my second duplex December 2020, also a house hack. The first was a conventional loan with a large down payment, funded by the sale of a townhome I had owned for over 10 years. The first duplex is cash-flowing nicely, $900 before expenses! The 2nd duplex was funded with an FHA loan with 3.5% down. I currently live in the 2nd duplex and the 2nd unit covers my mortgage. I have the real estate bug and my goal is to purchase two more multi-family units by the end of the year. I am running into a bit of a road block with financing my next multi-family property. I have approximately $175K of equity in the first property and would like to access that equity. Is there another creative way to to access my equity. Thank you in advance for the help!
Lauren