HELOC on paid off rental property?

HELOC on paid off rental property?

Investor · Hollywood, FL · Member since 2016 · 14 posts · 4 votes
Hi! BP people, I was unable to find an answer for the following question. I own a Townhouse (no mortgage), which is being rented. I was wondering if I can do a HELOC ? I understand that banks don't like HELOC when is not your primary residence, but mine is already paid off. Advice will be appreciated. Thank you! Javier
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Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
9y

try a credit union or other small local bank? 

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  • Investor · Tacoma, WA · Member since 2015 · 20 posts · 3 votes
    7y

    Ok. I have a duplex with 100% equity. Should I try for a LOC or a cash out finance? Is there an advantage to one or the other? Where would I look for this loans? Thanks Cheri

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