Looking for a lender to analyze my situation
I'm looking for a lender to work with to better understand my purchasing power. Currently have 3 rental properties. 1 is fully paid off and 2 with mortgages and HELOC. I currently have a primary and looking to convert it to short term rental. Can potentially open a HELOC on this property. There are many moving parts and am looking for advises from an experience lender on how to approach my situation. Thanks.
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I think it just depends on what you want to do. I think building out a strategy and thinking about what you want to do moving forward is a great starting point because it doesn't seem like you have a shortage of options.
From leveraging your existing HELOCs, opening a new one, or fully refinancing your property that is paid off, it feels like the biggest concern I would have for you would be 'paralysis by analysis'.
Sitting down and strategizing goals would be step #1, writing them down and committing would be #2, and I think #3 is figuring out the most cost effective way to get it done would be the propelling factor to making it happen.
Good luck! And happy to recommend and share my two cents if you are interested.