Sure. PM me.
Is the single family a rental or owner occupied? You might be able to look at a HELOC or a cash out refinance?
Neither, just a foreclosure I fixed up. With a HELOC Id only get 75-85% ltv I believe.
I'll probably turn it to a rental if I'm able to leverage it for the multiunit. Otherwise, Flip
Do you guys know a company that will HELOC an investment in NC?
@Omar Khan I haven't owned it long enough, maybe 5 or 6 months.
@Akil Simmons , It still might be worth a discussion with your CPA about the 1031 possibility. There is no statutory holding period. Sometimes folks in consultation with their accountants feel that their past history and practice and demonstrated intent can overcome the short holding period. I do get the feeling though that you probably just meant to fix it and flip it and in that case you're right it' wouldn't qualify.
However, if you're looking at a loan against it to buy something then you could put a tenant in and evaluate after a bit whether two rentals fit your objectives or whether you should sell one and then 1031 into something else.
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