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Updated 12 months ago on . Most recent reply

User Stats

19
Posts
5
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Brick Biermann
  • Investor
  • Jersey City, NJ
5
Votes |
19
Posts

Any creative way of getting equity out of investment property?

Brick Biermann
  • Investor
  • Jersey City, NJ
Posted

Anyone familiar with any lenders working with investment properties or can recommend creative ways of financing? The few lenders I've reached out to in my area (local banks, credit unions, etc.) are only working with primary residence for Helocs or Cash Out refi. Considering on taking advantage of the equity in my investment property instead of selling and would like to know what's out there to take into consideration for re-investment opportunities.

Most Popular Reply

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685
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279
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Brandon Croucier
  • Lender
  • Nashville, TN
279
Votes |
685
Posts
Brandon Croucier
  • Lender
  • Nashville, TN
Replied

A DSCR Cash Out Refinance is what I am going to recommend on this.

Typically can go up to 75% LTV on a cash out if you have good credit.

There are plenty of lenders around here who can get them done,

On a DSCR loan we do not take into account your personal income but instead qualify you based on the income generated from the property. You can close in an LLC and avoid the loan being reported on your personal credit report.

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