Leveraging a Cash Flowing Property

2 Replies

I own a 14 unit apartment that is fully occupied. The building was refinanced 5 years ago, so currently has a 40% loan-to-value ratio, using its appraised value. Do I pay it off and leverage the property to expand? Or can I keep current mortgage and still spin off the property to expand? 

What are everyone's thoughts on how to expand? 

Thank you

Paying off sounds like it'd take a while.

Use proceeds to buy new assets?

Refinance the asset and get cash out?

@Kyle I Pancis you might receive more responses to this type of a question in the multi-family forum.  I would be that a lot of people there would have an opinion on this.  Keep this here just in case but maybe post this in that forum too.  Just a thought.  Thanks!