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Updated over 3 years ago on . Most recent reply

User Stats

8
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2
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Kyle Jones
  • Investor
  • Minneapolis, MN
2
Votes |
8
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Creative ways to pull equity

Kyle Jones
  • Investor
  • Minneapolis, MN
Posted

Due to some unique circumstances we're going to be sitting on a boat load of equity on a personal residence that we're looking to see about options on leveraging right into multiple investment properties, ideally through DSCR loans. We are very aware of HELOCs, HELs, Cash Out refi's & these new "Selling off your equity" products but I'm wondering if there are any better, other or private lender options for accessing equity in your primary residence?

  • Kyle Jones
  • Most Popular Reply

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    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    6,499
    Votes |
    8,174
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    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    Replied

    @Kyle Jones the traditional routes, or "conventional" routes, are the ways that we want to go. Those routes usually have the best interest rates and lowest closing costs.  If you can qualify for those, then that's the route to go.  People get "creative" when they CANNOT go those routes.  That the "alternative" loans will carry higher rates/fees.  So if we have a choice, we want to use the conventional methods first.  I hope all of that makes sense. 

  • Andrew Postell
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