How to HELOC on a Rental Property in Los Angeles County, CA

[Shawn Choi]

Hello,

I have owned a Duplex in Los Angeles County since 2019, and looked into accessing my equity for another purchase.

However, as I have never lived in the property, and the property is under an LLC, I was informed by a lender that I would not be able to pull a HELOC on the property.

Is this the case? - Are there lenders that you recommend that would be able to provide a HELOC in this type of scenario?

What are my options as far as being able to use the equity that has built up in the property?

Thank you very much for your help!

[Heith Reade]

Quote from @Shawn Choi:

Hello,

I have owned a Duplex in Los Angeles County since 2019, and looked into accessing my equity for another purchase.

However, as I have never lived in the property, and the property is under an LLC, I was informed by a lender that I would not be able to pull a HELOC on the property.

Is this the case? - Are there lenders that you recommend that would be able to provide a HELOC in this type of scenario?

What are my options as far as being able to use the equity that has built up in the property?

Thank you very much for your help!

Hey Shawn, I do offer HELOCs on investment properties but not on anything bigger than a 1 unit SFR. Similar to what Alex Hunt offers, I do have 2nd position HELOANs on investment properties with more flexibility. Hopefully, between Alex and I you've got your question answered.