Posted by DaveD (WI) on August 12, 2003 at 10:42:06:
How much do you want to take out? There are all kinds of ways to do it, depends on your long and short term plans for the property you are taking cash out of. Refinance the existing debt, taking out secondary financing against it, or selling the house on a contract for 10 or 20% down are a few ways to get cash out. Or option it for quick cash today.
-Dave
Getting cash from equity - Posted by Leesa
Posted by Leesa on August 12, 2003 at 06:04:30:
I am confused as to how to cash out equity from one property to purchase another property? Please help.
Re: Getting cash from equity - Posted by jeff
Posted by jeff on August 13, 2003 at 20:02:30:
Use a home equity line of credit. If it is your residence you can get 100%, some lenders will go more and even up to 95% on investments with little closing cost. 6 month season on residence and 1 year on investment.