HELOC on Rental Home in Anna Maria and one for sale

[Ralph A Walkling]

Hi,

I am new to this site.  My wife and I own two rental properties on Anna Maria Island. Both are excellent rentals. One is for sale (761 Jacaranda).  I am interested in getting a Heloc on the other property.  Does anyone have suggestions for Banks that offer Helocs on rentals?

Thanks much,

Ralph

[BiggerPockets Investor Concierge]

@Ralph A Walkling That is a gorgeous area! I can understand why you want to keep one : )

CoreVest has offered investment property HELOCs in the past, but I have not used them personally.

A HELOC on a non-owner occupied is hard to come by because lenders consider them to be riskier than own-occupied properties.

Below are some BP threads that could be helpful for starting your search.

MasterList of Investor HELOCs

HELOC on investment property. 

Let us know how the search goes! If I come across any lenders in Florida for non owner occupied properties I will let you know.

[Ralph A Walkling]

Thanks, much, Joe. If I can't do that I might try to refinance one. Unfortunately, I'm learning that being an LLC could be a problem with some lenders.

Thanks, again for your thoughtful answer.

Ralph