Looking for a HELOC / 2nd mortgage on an investment property

[Yash Bhatt]

Hi,

We bought and rehabbed a home and it's been active as a short term rental for almost a year now in Sedona, AZ. We are looking to pull some cash out to recover our rehab costs and having a hard time finding a solution. We secured a 3.5% loan so we would like to avoid doing a cash out refinance. Ideally, we were looking to see if a private investor would do a 2nd position mortgage or HELOC.

loan balance is 740k

house would appraise between 1.3-1.4 million

We would like to pull out 200k

willing to discuss all creative options.

Thanks for considering! 

Yash

[Zach Wain]

Hi Yash,

Our office is in Scottsdale and we just added a investor HELOC. Happy to run through the numbers with you.