Indroduction and a question

[Brian D.]

Hi Everyone,

My name is Brian, I live in the Kansas City area and have a tiny bit of experience in real estate investing. Currently I have flipped one house and have rehabbed another and am currently renting it out. I have been reading this site for awhile and have learned a lot about investing. I have also learned that even though I've read as much as I can up to this point I am still going to need to guidance from more experienced investors from time to time. That's why I'm here...I have a question that many of you can probably help me with.

I have around 56k of equity in the single family home that I am renting out. I am considering purchasing another investment (single or multi family) sometime in the near future. I would like to tap into that equity to purchase the next investment but I'm not exactly sure how to go about doing that. Do any of you have any advice for me here? I know I could probably go into my local bank and talk to them but I know lending has changed since my last purchase 3 years ago and I want to go in with all the information that I can. Do you guys suggest doing a refi and getting the money out of there. Or do I have other options?

Thanks!!

[Al Williamson]

Welcome Brian D Thanks for de-cloaking.
Your best bet may be to take an equity loan against your rental. HOELC are difficult these days, but not impossible. Drawing equity out of a rental is surely going to be tougher.

I like your thinking, but be cautious about too much leverage. Don't build a stack of cards.

Best to you.