HELOC on free and clear New Jersey Property.

[Anthony Perez]

Hello BP,

I have a two unit rental in Elizabeth, NJ that's free and clear. Anyone have any good small bank recommendations? I'm using the proceeds to buy more multifamily so figured the HELOC is the best option. It's only for a small sum of $25,000 and the property appraises for $176,000. Thanks for the help!

[Ray Reed]

try BCB community bank in Union NJ.. ask to speak to Ricci Merendino (pronounced like Richie).