Home Equity Loan on an Investment Property?

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  1. Lagoni Mortgage Group
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Hello, I’m interested in getting a heloc in one of my investment properties

BibianaPelaez
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Afternoon sir. I have a property that I have about $300, 000 of equity in. It was owner finance to me a property really close to me just became available. It's a huge shop space with a live-in condo above it. Is it possible for me to use the equity that I have into my house even though it's a homeowner finance loan? After crunching the numbers they want $260, 000 for the shop I could have a Buddy, rent out the top unit and basically pay for the shop itself. Any insight would be wonderful. Thank you!

Sukalaminkplz
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What if you don’t have a loan on the current investment property and it has been paid off
Would you still get a loan to put as down payment for your next property?

michaeljacksonn
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Is this different if its a multi unit building that you also live in?

turtledude
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