Investor · Austin, TX · Member since 2017 · 54 posts · 11 votes
I own three properties. One has about $280,0000 equity that I would like to use to continue investing. Due to my high debt to income, I am not able to qualify for a refinance.
Monthly Income:
W2 2426
Property 1 Rent 2200
Property 2 Rent 2700
Total monthly income: 7326
Expenses:
Property 1 Mortgage 1306
Property 2 Mortgage 2177
Property 3 Mortgage 1284 (This is a co-sign loan)
Total monthly expenses: 4767
Besides selling the property with the high equity, what are options or strategies I can use to continue growing my portfolio?
Rental Property Investor · Mechanicsburg, PA · Member since 2018 · 281 posts · 176 votes
6y
@Stephen Nava hi Stephen, not sure but you may want to look into a real estate line of credit - you'd likely need a high credit score though as a requirement. Other options are a private or hard money lender.