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Updated 21 days ago on . Most recent reply

2 properties - looking at adding a 3rd. Best way to finance?
I have 2 properties in the Denver Metro area with no debt. I found one in Omaha. What advice would you give for financing a 3rd property? I do not have more than 5% for a down payment. Thanks!
Most Popular Reply

Caleb Brown
#5 Buying & Selling Real Estate Contributor
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The 2 properties you have don't have any debt? If that's the case you can refi. You can refi to have enough for a DP for a 3rd property. HELOC can be an option but it's more expensive and you'd want to pay that off quickly. I would make sure you have money saved before adding the 3rd to be a safety net. If you refi and pull money out leave some set aside for a rainy day/repairs/maintenance.
- Caleb Brown