How can I borrow money to fix up a rental property that is paid for through my home equity loan?
paid from a home equity loan on my current residence?
I already borrowed the money for the rental property from my primary home.
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Answer by Paul in San Diego
If you have enough equity in your primary residence to take out a loan (probably a home equity line of credit, or HELOC), you can use that cash for whatever you want. Including fixing up a rental property.
And, remember that those repairs are tax deductible. And, so is the interest on the HELOC.
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