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Updated almost 2 years ago on . Most recent reply

Phyllis Kelly's profile image
Phyllis Kelly's profile image
Phyllis Kelly
  • Rental Property Investor
  • from Northern Kentucky
  • Member since Nov 14, 2022

User Stats

12
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Phyllis Kelly's profile image
Phyllis Kelly's profile image
Phyllis Kelly
  • Rental Property Investor
  • from Northern Kentucky
  • Member since Nov 14, 2022
Phyllis Kelly
  • Rental Property Investor
  • Northern Kentucky
2
Votes |
12
Posts
Private Lending & Conventional Mortgage Advice

HELOC on NOO property owned outright

Phyllis Kelly
  • Rental Property Investor
  • Northern Kentucky
Posted

Hello everyone, we will be looking to acquire a HELOC on a duplex owned by our LLC, NOO. We paid cash for this property - no mortgage. We have been working on updating the outside and now need funds to keep going on the interior. Would like to know if others have experience with this and if there are recommendations on lenders to work with.

Cincinnati, Ohio
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Chris Seveney's profile image
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Chris Seveney
  • #4 All Forums Contributor
  • Investor
  • from Virginia
  • Member since May 23, 2015

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Chris Seveney's profile image
Chris Seveney's profile image
Chris Seveney
  • #4 All Forums Contributor
  • Investor
  • from Virginia
  • Member since May 23, 2015
Chris Seveney
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  • Virginia
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@Phyllis Kelly

Right now it’s been very challenging to find lines of credit on investment properties. Since there is no mortgage on the property, why not just take out a

First position mortgage

  • Chris Seveney
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7e investments
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