Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on .

User Stats

91
Posts
52
Votes
Anibal Mijangos
  • Specialist
  • Los Angeles, CA
52
Votes |
91
Posts

Using rental property for financing

Anibal Mijangos
  • Specialist
  • Los Angeles, CA
Posted

Hey everyone! Would love some financing suggestions. I'm trying to use a current rental property as financing for another since there's only about $6k left to pay off on a HELOC we got when it was our primary residence. Was going for another home equity loan or HELOC. The issue is that we've purchased a commercial property using a SBA loan which then put a lien on the rental property. Was told a cash out refi wouldn't be possible because it's a rental property and the SBA loan takes second position - making another home equity loan nearly impossible since it be 3rd place. Advise from a different perspective would be amazing. Is it as simple as paying off the current HELOC? Or is there another way I'm not seeing. Thanks!