Home Equity Loan for Downpayment on a Rental Property
I am new to BP and am a relatively new investor. My wife and I currently own a duplex with about $650,000 in equity. I wanted to use some of this equity to make a down payment on some rental properties in the Dallas/ Fort Worth area. Does anyone know how long it takes to get approved for a home equity loan and what rates are for one? Also If there are any alternative strategies I should look into before I go this route?