NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1509 topics, 14383 posts — Last Post 04/18/14, 07:04AM

BiggerPockets Exclusive PRO Area

117 topics, 839 posts — Last Post 04/18/14, 05:47AM

New Member Introductions

10874 topics, 85514 posts — Last Post 04/18/14, 08:51AM

Real Estate Success Stories

394 topics, 6128 posts — Last Post 04/18/14, 09:17AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5929 topics, 46728 posts — Last Post 04/18/14, 09:19AM

Renters

643 topics, 5820 posts — Last Post 04/18/14, 08:38AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

654 topics, 6262 posts — Last Post 04/18/14, 09:08AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3668 topics, 29420 posts — Last Post 04/18/14, 09:19AM

Real Estate Guru, Book & Course Reviews and Discussions

1132 topics, 11549 posts — Last Post 04/18/14, 08:31AM

Ask About A Real Estate Company

740 topics, 7315 posts — Last Post 04/18/14, 08:56AM

Real Estate Investing

Real Estate Strategies

Wholesaling

5591 topics, 43687 posts — Last Post 04/18/14, 09:04AM

Rehabbing and House Flipping

3328 topics, 30954 posts — Last Post 04/18/14, 08:57AM

Real Estate Development & New Home Construction

552 topics, 4679 posts — Last Post 04/17/14, 10:10PM

Innovative Strategies

703 topics, 6027 posts — Last Post 04/18/14, 08:48AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

865 topics, 6668 posts — Last Post 04/18/14, 08:43AM

Rent to Own a.k.a. Lease Purchase, Lease Options

692 topics, 4872 posts — Last Post 04/18/14, 08:57AM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11285 posts — Last Post 04/17/14, 06:41PM

HUD, VA, and Tax Sales

414 topics, 3088 posts — Last Post 04/17/14, 07:35AM

REOs

1214 topics, 10570 posts — Last Post 04/17/14, 02:28PM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7194 topics, 70670 posts — Last Post 04/18/14, 09:01AM

Mobile Homes & Mobile Home Park Investing

638 topics, 5139 posts — Last Post 04/18/14, 06:11AM

Investor Basics

Starting Out

7693 topics, 60397 posts — Last Post 04/18/14, 09:15AM

Investor Psychology

430 topics, 6097 posts — Last Post 04/18/14, 07:58AM

General Real Estate Investing

4712 topics, 37166 posts — Last Post 04/18/14, 08:52AM

Real Estate Investor Marketing

1730 topics, 14091 posts — Last Post 04/17/14, 06:21PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1409 topics, 8983 posts — Last Post 04/17/14, 06:13PM

Multi-Family and Apartment Investing

1106 topics, 9196 posts — Last Post 04/18/14, 03:22AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

638 topics, 4884 posts — Last Post 04/17/14, 02:08PM

Business Basics

Goals, Business Plans & Entities

830 topics, 7556 posts — Last Post 04/18/14, 09:13AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2784 topics, 19998 posts — Last Post 04/18/14, 08:30AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2730 posts — Last Post 04/17/14, 04:56PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2830 topics, 19685 posts — Last Post 04/18/14, 08:41AM

Creative Real Estate Financing

1207 topics, 8762 posts — Last Post 04/17/14, 03:35PM

Crowdfunding Real Estate

35 topics, 459 posts — Last Post 04/18/14, 09:06AM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1208 topics, 7966 posts — Last Post 04/18/14, 09:06AM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1921 posts — Last Post 04/18/14, 07:22AM

Contractors

268 topics, 1684 posts — Last Post 04/18/14, 07:43AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1984 topics, 11590 posts — Last Post 04/18/14, 08:46AM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 428 posts — Last Post 04/18/14, 04:22AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15006 topics, 53921 posts — Last Post 04/18/14, 09:14AM

Real Estate Events and Happenings

163 topics, 2490 posts — Last Post 04/18/14, 08:49AM

Off-Topic

Off Topic

Off-Topic

2903 topics, 32402 posts — Last Post 04/18/14, 07:21AM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Portfolio HELOC?

8 posts by 7 users

Signup

Real Estate Investor · Savannah, Georgia


Does anyone have experience obtaining Home Equity loans accross a portfolio of rental properties? Do lenders do this? Let me be clear, I am not asking information on a lender becuase they will delete me. I am justing generically what type of lenders do this this and how does it work...do they place liens against all properties involved?

Thanks



Real Estate Investor · Manteno, Illinois


Local banks might be willing to do this. I had a local bank that I came "this" close to doing exactly what you described above. And, believe it or not, it wasn't even my idea - it was the banker's.

I was really just wanting to see if they'd refi one sfh into a commercial loan since I'm running near my conventional limit and wanted to save those spots.

Instead, he wanted to do a blanket loan on a bunch of my existing properties and use the extra equity (above the 70%) to create a LOC that could be used to purchase additional properties. And after I bought it and fixed it up, they were going to refi those into the blanket again to free up my LOC.

It sounded too good to be true. But he ran it by his VP and everything looked good. They ran all the numbers, had all the documentation and got an initial approval from underwriting.

Then when it went for final approval with the bank's lending committee, there was one VP that shot it down. Said the bank just got thru clearing off the last of their bad investor loans and he didn't want them to get back into this vertical right now.

So, yes, it is definitely possible. But you have to find a local bank or some other type of commercial lender with a progressive view of real estate investors. The LOC might be an issue. But at the very least, you should be able to pull some cash out if you can find a bank willing to do a blanket loan on your properties AND if you have some additional equity to pull out of them on top of the traditional 70% LTV.



· Scottsdale, Arizona


Try business banking, or a commercial LOC with whoever you currently have a banking relationship with.




This post has been hidden.


Real Estate Investor · Savannah, Georgia


Thanks for the replies. The portfolio consists of 8 properties...4 with mortgages, 4 free and clear. The ones with mortgages have long term fixed rate "gubument" backed loans. These are precious to me and I dont want to give them up for a more expensive commerical loan unless I am up against the 10 loan limit and I am not there yet.



Commercial Landlord · Omaha, Nebraska


@Chris Licavoli I don't have personal expeirence but do know a local SFR investor who does have a busines LOC just like @Paul Cordero suggested. I would think you could get a LOC based on the properties that are free and clear from a local bank. I also would not lose those loans you have at a great rate.



· Dayton, Ohio


@Dennis Tierney I have 3 rental properties sitting free and clear. Tried to get HELOC on one to consolidate debt. Bank turned me down do to, "income to debt ratio." high ccard debt. how can I get from one end to the other to consolidate debt. Right now, I am drowning in 20% interest.



Multi-family Investor · Atlanta, Georgia


@Trevor Rutherford , please go here: Fat Wallet Finance - Best Balance Transfer Credit Cards

If you qualify, you can get 0% for up to 18 months with Alliant Credit Union. Most cards have a transfer fee, so you'll be paying around 3% interest total for 12 or 18 months.


No_company_avatar_smallBen Bakhshi, Cohen Benjamin LLC
E-Mail: [email protected]
Website: http://www.cohenbenjamin.com
From Israel? Join us! http://www.meetup.com/Israeli-Real-Estate-Investment-Club




Sign up