Creative Real Estate Financing

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Jack Cross
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Using equity to fund down payment

Jack Cross
Posted Aug 17 2019, 05:55

Hi BP!

Basically noobs here. My wife and I own two properties. One rental property (in Europe) and our condo (New York). We recently took 33% equity out of the rental to purchase our condo. Our rental is paying off the remortgage and still cash flowing. We own the condo outright now. What is a safe strategy for leveraging the equity in our condo to begin building a RE portfolio here in the US? Helco? Mortgage on the condo? I have excellent credit. I know I need to sit down with some lenders but I’d like to get some feedback as to what to ask for going in.

Thanks!

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