New Rookie investor
Hello everyone, I am a rookie investor. I have a Property in Yukon, Oklahoma that I lived in for three years. I just recently put a new tenant in there. currently trying to buy a home here in Panama City, Florida for my primary residence. it will be a new build I want to increase the properties value And potentially sell or keep it as a rental property not sure yet. But with my other home and Yukon, I know now is not a good time. However what my options for pulling out money in order to buy another potential investment property? That doesn't affect my current interest rate.
Most Popular Reply
Hey Latron — welcome and congrats on taking those first few steps. Renting out your Oklahoma property and buying new in Panama City is a solid path.
If you're looking to pull money out of the Yukon property without touching your current low interest rate, a HELOC might be your best bet or a 2nd mortgage. Both are a second lien, so your existing mortgage stays intact. Just be sure the rental income supports the payment.
I'm an investor and mortgage broker here in Florida. Feel free to DM if you want help running numbers or comparing options — happy to help! :)