Best Option for Financing 2nd SFR. HELOC?
Hi all. I have 1 SFR and I want to purchase another. I want to know what is the best way to finance the second one without using any of my personal funds.
I do have 60,000 in equity in my first rental so a HELOC is possible. I have excellent credit and have a W-2. The LP on the property is 36k but I want to leverage as much as possible. Do I need to go to a portfolio lender or will my traditional big bank give me a mortgage?
Also if you're in Cincinnati feel free to connect with me I'm looking to educate myself and learn from people smarter than me :)
- Brad