Updated over 8 years ago on . Most recent reply
Financing for an acquisition
I am looking to keep the ball rolling with my real estate investing, and am currently looking for financing to make an acquisition when an opportunity becomes available. I own a rental property with around 100k in equity. The FMV of the property right now is around 160k. I also have my primary residence which has a younger loan and due to that I do not have as much equity in, however I still have around 50k in equity in it. I am trying to put some of the equity in the investment property to work without having to sell the property to get access to the equity, however because it is a rental I have been unable to find a bank that will lend. I have even checked smaller community banks. Any thoughts or ideas are appreciated. Thanks!