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#212: How To Pull Cash Out of a Property WITHOUT Refinancing and Losing Your Favorable First Position Mortgage
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In today's episode, I want to discuss a topic that many investors are currently facing: how to tap into the equity in your investment property without having to sell or refinance.
I know that many of you may have invested in properties a few years ago and now find yourselves with some equity. However, the current options for refinancing may not be as appealing as you had hoped. That's why I wanted to share some strategies on how you can access that equity without giving up your favorable first position mortgage.
In this episode, we discuss:
- Understanding the concept of a quality first position mortgage
- Exploring options for tapping into property equity without losing favorable loan terms
- The role of second position loans and how to find lenders willing to offer them
- The advantages of working with local banks and credit unions for second position financing
- The potential of private financing and agency supplemental mortgages as alternative options
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