Best financing option to purchase property

[Matt M.]

Hey all,

I have the opportunity to purchase the other side of duplex I own free and clear. (twin or 1/2 double as it’s called).

I have the cash to buy it, but we will need to replace that cash. Is it best to do a cash out refi of the other house I own, or try and get a mortgage for this new one?

Thoughts and or opinions please

[Patrick M Nichols]

@Matt Michaelson You should talk to a local banker. They might consider this a commercial or a blanket loan, which may have stricter qualifications. However, if it allows you to free up your own cash then it would probably be worthwhile to pursue.