Updated almost 4 years ago on . Most recent reply
Heloc for 6 unit apartment
I got an off market 6 unit 1 bed 1 bath in NC, for 150k and getting it renovated for another 150K. Renovation will be done in 2-3 months. Total renovation. Since units were in bad shape no one was ready to finance it initially. So i paid cash for buying it and renovating it. Now i have invested 300k into the units. What are my options to take out cash so that i can invest in other properties. Is it Heloc or Line of credit for 6 untis since it comes under commercial. And how are the interest rates like? for how many years. I don't have any idea so any help will be appreciated. Thank you