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Need help with HELOC on rental property....can this be done?
Hello there, I am new here so I am hoping I found the correct forum in which to post. I am a rookie with only two rentals and I live in the Dallas area. I would like to do a HELOC on one of my rental properties because this is the ONLY property that currently has equity. I have called several banks (credit unions) and all of them have said they do not do HELOCs on an investment property---never heard of it. Does anyone know of any banks in my area who might be willing to work with us? If not, I can do national banks too. Is this even possible? Thanks!