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Old 01-27-2013, 06:05 PM
 
1 posts, read 1,104 times
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I have 5 rental properties tht i own fee and clear. 4 are SFH and 1 is a duplex 3 bedroom apts. I am tryn to get a loan or money off of the properties. My credit is poor. I am willing to use property as collateral. ALL PROPERTIES ARE RENTED OUT. PLEASE ADVISE ME ON WHT KIND OF LOAN(S) I SHOULD APPLY FOR
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Old 01-27-2013, 08:17 PM
 
28,453 posts, read 85,392,786 times
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If you need cash you may be forced to sell of your properties if the income streak from them is insufficient to allow you to qualify for the kinds of mortgages that available... The current environment is not easy to finance income property...
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Old 01-27-2013, 10:04 PM
 
Location: Not where you ever lived
11,535 posts, read 30,269,957 times
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You could try for a second mortgage on one of the houses. If you have a poor credit history with your bank, combined with the state credit rating you may have a hard time. Unless you have really good renters you might consider selling off one property.
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Old 01-28-2013, 06:16 AM
 
1,131 posts, read 2,026,497 times
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How much do you need, what are your estimates of the property values, and what kind of cash-flow do they generate?
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