Line Of Credit

[Ricky Beliveau]

I have a large amount of equity in two of my multi family properties in Boston. They are both locked in at very low interest rates on 30 year fixed. I am wondering what options exist for lines of credit off of these properties to be used as liquidity in my flipping/condo conversion business. I know HELOC is only for primary residence so looking for options/lenders that will do similar for rental properties up to say 70-75% LTV.

Thanks!

[Percy N.]

@Ricky Beliveau, look for a local portfolio lender who will offer a commercial LOC on these properties. Typical rates are 5.5% APR with 1 point.