Quote:
Originally Posted by Alvinized52
Quote:
Originally Posted by roastbeef
have you gotten a heloc on a rental yet? i've read that its tough. 3.5% is a great rate for a rental. i wouldn't want to get rid of that either.
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3.5% are on the 1st mortgage on all my investment properties.... but not the 2nd loan /helocs. i wouldnt want to do cash out refi and lose my 3.5% rate.
Yes its very tough to get helocs on non-primary... Most banks wont do helocs on investment properties. But i found one bank EastWestBank.... although rate is super high 7.5% but (with no docs required)...urghh. But between all my properties.. i should have access to 1.2m-1.5m cash to play and flip propeties. Im thinking its worth it for temporary access to cash.... so i can buy properties and leverage “all cash” buying power for purchases. |
If it's short term, have you looked into hard money lenders?