Check Out These Smart Ways To Increase Your Rental Income
1. Use The Equity You Already Have
You can take out a Home Equity Line of Credit (HELOC), a home equity loan, or do a cash-out refinance on the first mortgage to get the funds you need to purchase another investment property.
2. Put Your Debt-to-income Ratio To Work For You
As far as the bank is concerned, if your first investment property is generating an income every month, or has the potential to generate an income every month, it is probably worth borrowing against for purchasing another investment property.
3. Increase Your Investment Portfolio
It stands to reason that the more you add to the number of investment properties you own without overextending your finances, the more rental income you stand to collect.
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