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Updated about 11 years ago on . Most recent reply

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3
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Phillip Lloyd
  • Homeowner
  • Nags Head, NC
0
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3
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BP beginner needs advice.

Phillip Lloyd
  • Homeowner
  • Nags Head, NC
Posted

Hello World,

I've been making phone calls and researching my situation and still do not have the answer.  So here I am reaching out for help.  

Scenario:

I'm currently under contract for a second home that will be my primary place of residence. I'm liquidating stock for my 20% deposit and almost maxing out my income to debt ratio with this purchase. I have an investment property in Santa Rosa Beach FL that rents year round. It has 200k equity in it. I want to upgrade this property to rent out weekly but cannot get a HELOC on it as its an investment property and not primary place of residence.

How can I get finance to upgrade this property?

Thanks for the help in advance.

Phill

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