Updated over 9 years ago on . Most recent reply
Equity Line on Investment Property
I am purchasing a multifamily home via owner financing. My local bank says they do not do equity lines of credit on investment properties. Is that true of all banks. If so. How can I take equity out of this house to purchase another investment property? Thanks.
Most Popular Reply
I'm noticing in areas like southeast there are local banks that offer financing for real estate but they categorize them as "Commercial Business Loans". Check out Lumbee Guaranty Bank based in of North Carolina