Best Approach for Utilizing Investment Property Equity
I am looking for advise on how to use the equity I have in my rental properties to grow my portfolio. I have two LTRs with conventional loans with $90k in equity each. I would like to use the money for a down payment on my next property without touching the existing loans. However, whenever I run the numbers it seems that my cashflow gets wiped out because of the interest on the down payment and the conventional loan I would take on the next property. What strategy do people have to use existing equity? What am I missing? Is the only way to effectively utilize equity to buy the property outright so I would only be paying the interest on the loan leveraged on the equity?