What are my options for a small PML using equity?

[Dylan Webb]

Hello, here's my situation:

My wife and I own several properties separately.

2 of the single family homes combined we have conservatively $150,000 in equity ($90,000, $60,000) 

I want to use one of these as collateral for a small loan of $30,000 to put down on a high cash flowing property OR have a lender finance the whole venture at a purchase price of $160,000. Is this doable?

[Patrick Roberts]

Need more info than this. Sounds like you're asking for a private lender to go into second position to convert equity into cash behind an existing loan on these properties. It will be highly dependent on the LTVs, but 2nd's on investment properties get sketchy. 

A cashout refi of the current loan on one of the properties may be an option. Hard to say without more info.