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

1522 topics, 14436 posts — Last Post 04/23/14, 11:39AM

BiggerPockets Exclusive PRO Area

118 topics, 844 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10968 topics, 86438 posts — Last Post 04/23/14, 12:15PM

Real Estate Success Stories

397 topics, 6188 posts — Last Post 04/23/14, 07:49AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5986 topics, 47182 posts — Last Post 04/23/14, 12:16PM

Renters

649 topics, 5856 posts — Last Post 04/23/14, 10:42AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/21/14, 03:59PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

658 topics, 6316 posts — Last Post 04/23/14, 09:50AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3704 topics, 29699 posts — Last Post 04/23/14, 11:00AM

Real Estate Guru, Book & Course Reviews and Discussions

1139 topics, 11596 posts — Last Post 04/23/14, 11:28AM

Ask About A Real Estate Company

743 topics, 7344 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5630 topics, 43908 posts — Last Post 04/23/14, 12:21PM

Rehabbing and House Flipping

3349 topics, 31094 posts — Last Post 04/23/14, 11:14AM

Real Estate Development & New Home Construction

554 topics, 4694 posts — Last Post 04/22/14, 09:17PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

867 topics, 6692 posts — Last Post 04/22/14, 08:22PM

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

698 topics, 4923 posts — Last Post 04/23/14, 12:22PM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3102 posts — Last Post 04/22/14, 01:39PM

REOs

1217 topics, 10595 posts — Last Post 04/23/14, 09:23AM

Short Sales

1538 topics, 13139 posts — Last Post 04/22/14, 01:38PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7243 topics, 71100 posts — Last Post 04/23/14, 12:33PM

Mobile Homes & Mobile Home Park Investing

639 topics, 5144 posts — Last Post 04/23/14, 07:57AM

Investor Basics

Starting Out

7725 topics, 60648 posts — Last Post 04/23/14, 11:42AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4727 topics, 37314 posts — Last Post 04/23/14, 12:12PM

Real Estate Investor Marketing

1737 topics, 14144 posts — Last Post 04/23/14, 12:07PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1412 topics, 9004 posts — Last Post 04/23/14, 08:50AM

Multi-Family and Apartment Investing

1123 topics, 9363 posts — Last Post 04/23/14, 12:19PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

644 topics, 4910 posts — Last Post 04/23/14, 10:40AM

Business Basics

Goals, Business Plans & Entities

832 topics, 7571 posts — Last Post 04/23/14, 09:48AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2803 topics, 20131 posts — Last Post 04/23/14, 12:24PM

Property Insurance

310 topics, 2055 posts — Last Post 04/22/14, 07:38AM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2852 topics, 19841 posts — Last Post 04/23/14, 12:23PM

Creative Real Estate Financing

1217 topics, 8845 posts — Last Post 04/23/14, 09:39AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1217 topics, 8024 posts — Last Post 04/23/14, 08:23AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1929 posts — Last Post 04/22/14, 11:03AM

Contractors

269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2012 topics, 11723 posts — Last Post 04/23/14, 12:05PM

Americans & International Real Estate

162 topics, 568 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

65 topics, 439 posts — Last Post 04/22/14, 09:27AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15078 topics, 54101 posts — Last Post 04/23/14, 12:17PM

Real Estate Events and Happenings

167 topics, 2590 posts — Last Post 04/23/14, 09:12AM

Off-Topic

Off Topic

Off-Topic

2907 topics, 32441 posts — Last Post 04/23/14, 11:24AM

Housing News & Real Estate Market

920 topics, 8390 posts — Last Post 04/23/14, 11:47AM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

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