I currently have a real-estate portfolio of $1,406,000.00. The outstanding balances total $1,110,000.00. The portfolio consist of two properties. The first property is my primary residence, located in Maryland, which has a 1st and 2nd that total $600,000 the property appraises for $758,000 thus leaving me with $158,000 in equity. I have my investment property, located in Washington, DC, which I owe $510,000 it has an appriased value of $648,000 thus leaving me with $138,000 in equity. All properties together give me $296,000 in untapped equity. I DO NOT HAVE THE CREDIT SCORES to do traditonal financing but I have the portfolio. Is there anyone who can finance a cross-collateral loan that secures both properties and give me the cash I need? I need approximatley $150,000 of the untapped equity to pay off other debts that I owe.

A quick point. Your primary residence appraises for 758k. A local bank would give you 80%, 606k. If your 1st and 2nd total 600k, you’re looking at 6k of ‘good’ equity. Once you factor in your closing costs it’s zero.

Your investment property appraises for 648k. 80% of that is 518,400. You owe 510k, which basically is a wash also. The days of borrowing 100% of your equity are over, especially with having marginal credit scores.

The unfortunate truth of it is that you have $0 equity that you can tap into. If you couldn’t do this simple calculation you had no business buying an investment property in the first place. I suggest you sell and invest your money elsewhere or do a little more homework before you buy again. Sorry, it’s the tough truth.