Financing ideas on an investment property
We recently closed on our second investment property, a duplex, which is cash flowing nicely. We live in a duplex ourselves, so we have a total of three units. All our tenants have stable jobs. We are looking to perhaps move into a larger place, and rent out our original duplex, which would increase our monthly cash flow even more. We did some renovations on property #2 and think we have a good chunk of equity that we can use as a down payment on a primary for ourselves (another duplex). Does anyone have a lead or knowledge of a reputable institution to place a HELOC on the investment property? A good amount of banks I spoke to only were interested in HELOCs on primary residences.I
Any suggestions would be appreciated.