Community Bank or Credit Union?
So I am currently doing the Brrrr strategy and I just got my property appraised and found out that it has doubled in value. I’m looking to purchase my 2nd rental and instead of doing another residential, I am looking for something bigger (commercial, 6 units or more).
I want to start a HELOC but want to know from others experience, do a community bank or a credit union work better for this line of credit, and wanting to use the HELOC for investing even relevant to the lender?
Any advise is helpful 😀
Some credit unions might not offer HELOC while some community banks will. What I would do is do some research in the area and analice who would give you the best deal. Then try to form a relationship with them if the are a portfolio lender. There is not a huge difference between community and CU just what they offer and how they focus their money
@Jose Batista Abikarram thanks for your feedback
Your welcome!