Updated almost 11 years ago on . Most recent reply
HELOC ?
I own a single family rental property. I have had it for three years. I am "assuming" there would be equity by now... maybe I am wrong ???
I would like to buy another investment property; I have saved around 10k so far this year and would need another 15-20k for the 20 % down payment to buy a three family in our area.
Is it wise to pull equity out of one of your investment properties to buy another ? Do all HELOC's need home inspections ?
any help would be great; I am just starting out and want to learn as much as possible before jumping into another rental property as I have done some things wrong with this one haha..