Posted by Mark (SDCA) on April 06, 1999 at 11:07:55:
Yes, true. This technique relates to giving the seller of property B a mortgage on a property you already own (property A). Assuming you could find enough sellers, you could do this forever. (Give seller of C a mortgage on B. Giver seller of D a mortgage on C etc. Thus, whatever the initial equity in property A was is ALL the equity you have total.) It’s called pyramiding and is VERY agressive. Hope this helps,
Mark
using equity in one property to buy another and so on - Posted by Thomas
Posted by Thomas on April 06, 1999 at 09:56:09:
Recently i studied Carlton Sheet’s “No Money Down” techniques. I found his ideas interesting, however, I have an impression that some of them are not complete i.e. the concept of using equity equity in one property to buy another. If you already have 10 % equity in one of your investment properties and intend to purchase another using that equity, isn’t it true that the bank won’t let you use that equity in your property if it is over 80% of the property value ?
I will appreciate any help with this question