Equity Loans on Investments
Hi! I recently saw a comment on BP about this and wanted to get a little bit more insight. So we are closing on our first duplex in 2 weeks. 80k property, profiting $300/door/month, putting $25k down payment conventional loan. Is it possible to get an equity loan on this property soon after closing and using, essentially, our same 25k to buy ANOTHER one? Would a bank accept an equity loan on an existing investment property for down payment on another one? Currently only looking at residential properties and our personal DTI is still good to buy 2 more properties around this same price range. (would like 2 more duplexes!).