Pulling $100k from portfolio

[Nic S.]

I have a portfolio of SFH and small MFH in KCMO and Memphis worth about $1.5M. I owe roughly $800k on the properties. What would be the smartest way to pull $100k from the portfolio for personal use?

[Doug Smith]

Yep...watch the 10-Year Treasury for moves as the mortgage rates follow that. Wednesday's weak job's report caused a pretty significant dip, but it's coming up a bit again this morning so far. A second-position loan...HELOC or Installment Loan...that is non-owner-occupied is going to command a higher risk-premium. They are pretty high right now and you have to determine for yourself whether that high of a rate is worth it. HELOCs on rental properties are tough. Wall Street is tightening up with what they are backing right now.