Updated almost 6 years ago on . Most recent reply
How to Buy My Next Multi-Family
I need around 270k to pay cash for a multi-family unit in my area, asking price 799k. I have approx. 350k in equity in other rental properties. Can I borrow on the 350k equity, and if so, how would that loan compare to a regular HELOC? Higher rate, I'm assuming? At any rate, I'd be better off borrowing on the 350k equity than just taking out a business loan for 270k to buy the subject property, correct?
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@Avery Goodman I prefer to take it from the equity. How much is the value of that property? And what type of property is ?