Financing with 250k in equity, no income docs

[Hank McArdle]

I currently own 2 properties in AZ free and clear. I want to use the 250k in value to purchase a multi unit rental in Chicago, while keeping and renting my AZ properties. My income docs aren't there, is there a private deal I should consider, or a Portfolio loan? Should I quit claim my property to an LLC? Any advice will help. Thank you

[Meghan McCallum]

I would see if I could get a line of credit from a local bank on your AZ properties. They may have a problem w you investing the $ outside their lending area. They may not ask. Find local banks, make friends with the lenders, and have them teach you how to give them the answers they are looking for. I am having success w that.