Skip to content
General Landlording & Rental Properties

User Stats

4
Posts
1
Votes
Alan Eng
  • Brooklyn, NY
1
Votes |
4
Posts

How can I expand this by leveraging my assets?

Alan Eng
  • Brooklyn, NY
Posted Jan 8 2016, 20:45

Hi,

I currently own 3 properties. 

2 are full paid off and are being rented. Total net worth about $800k.

Rent per month: $3150

1 owner occupied property with a lien of about $188K.

How can i use my properties to secure loans to purchase more property? I tried to take out a HELOC but my units have too many rentals and did not qualify from a bank.

Would I have the same difficulty if i tried to do a Cash Out refinance on one of the properties? 

Thank for your comments in advance!

Loading replies...