Updated 4 months ago on . Most recent reply
Rental Portfolio LOC
I’m moving down to the Palm Beach County area this Fall. I plan on getting my realtors license and flipping/ investing into properties. I was wondering if there was a way to tap the equity of my entire portfolio that is in KY. Preferably a local bank or credit union in the SE FL area that is friendly to real estate investors. They only allow basically 1 business day for payment at the PBC foreclosure auctions. So I would need quick access to funds. This could expand my purchasing power immensely. Any help or advice would be greatly appreciated.
Most Popular Reply
If your certain you are doing this I would recommend just doing a cash out on your properties, around mid 7's.. having the funds available and put them into a savings account earning 4-5%.. Better than the alternative of having a line of credit at 12%, the 2-3% hit in spread is lower than a 5% increase in cost of capital in my opinion.