Creative Financing/ Portfolio Lending Maryland

[Nicole Cosentino]

Looking for advice on leveraging strategies in Baltimore, MD. I have two rentals, one paid off and the other with substantial equity. I have equity in my primary as well. I would be fine if purchasing a home through conventional financing but I don't want to pigeon hole my direction in the event that an auction property comes available.... I have about 100k liquid but money is so cheap i'd rather leverage my current assets. Thoughts on doing this?  

[Jerry Padilla]

You can cash out refinance your properties with conventional financing to have cash available for more investment purchases. I have clients that use this strategy all the time. Have you owned the properties greater than 6 months?

Here are the LTV's

• On a primary residence you can pull out up to 80% LTV on a SFR and up to 75% LTV on 2-4 unit multi-families.
• On an investment property; A SFR if you have mortgaged properties, you can pull out up to 75% of the equity and on 2-4 units is up to 70% equity.