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Updated almost 3 years ago on . Most recent reply

How to leverage equity-HELP
I just got a multi-unit and it just so happens that it requires a bit more cash, such as plumbing, electrical etc,. I have two other buildings, and I have a high amount of credit card debt (over 50k) due to the unforeseen surprises of the latest building. I would like to pay off the debt but I would also like to tap into the equity of one of the buildings for my next purchase. Any advise.
building 1: available equity 110K , monthly cash flow about 1100
building 2: available equity about 50K, monthly cash flow about 700
building 3: under renovation, monthly negative 1600
Most Popular Reply

What you did not mention is what are the values or LTV's of those assets. you could try and get a LOC or refinance but you probably cannot exceed 75% LTV. Might need to sell one if they are high.
- Chris Seveney
