Hi Dane. This is an asset backed loan, the real estate is the collateral. Cross collateralized loans are more risky. Ive seen people want to sell one asset or one deal goes bad and it can risk all assets that are crossed up. Lenders have a lot of teeth in crossing up assets. Its way more cleaner to tie debt to one property so thats the main advantage. imo stay away from crossing up multiple assets in one loan! too many caveats and risk!
That makes sense! Thanks for your opinion! Any advice for someone who wants to leverage equity in a primary residence? Don’t want to over leverage but definitely want to access it cheaply to invest in more real estate.
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Thanks for the tour🙌
Awesome Dan. Goodluck!
Excellent tips you shared here in your video. Love it!
This is really a brilliant method
Thanks for the walkthrough. You are an awe-inspiring man.
Worth to watch!
Love the after result
Awesome tips, love it and thank you!!
This tips are nice!
Great idea, gonna do this.
I'm learning a lot!
You are amazing! I want also to invest in real estate. Your videos are always a good resource. Thanks.
Beautiful houses
Thank you for sharing this.
Thanks for a brilliant and insightful video. Learned and took a lot from it. I appreciate you for the great work that you do.
Great advice! Hope to do this in the near future!
I think its a great investment and great ROI!
Great video, keep them coming!
I'll definitely do this if I'll buy a unit!
Lovely house
You sound certain with your stuff!
Manifesting to be able to do this soon!
Wonderdul content
Woahhh I didn't know you could do that
Will the triplex cash flow given the new loan structure?
yes. my pmt is the same as I went from a Principal and Interest Loan to Interest Only. It actually dropped a little.
What’s the main advantage to a cash out refi compared to a cross collateralized loan or an asset backed loan?
Hi Dane. This is an asset backed loan, the real estate is the collateral. Cross collateralized loans are more risky. Ive seen people want to sell one asset or one deal goes bad and it can risk all assets that are crossed up. Lenders have a lot of teeth in crossing up assets. Its way more cleaner to tie debt to one property so thats the main advantage. imo stay away from crossing up multiple assets in one loan! too many caveats and risk!
That makes sense! Thanks for your opinion! Any advice for someone who wants to leverage equity in a primary residence? Don’t want to over leverage but definitely want to access it cheaply to invest in more real estate.
I think now is a good time to wait but get your HELOC established and be ready. I would only invest this equity into a absolute no brainer.
My question with this topic is that, How will this affect my credit score?
Not going to affect your score to my knowledge.