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Updated almost 5 years ago on . Most recent reply

Anthony Perez's profile image
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Anthony Perez
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  • from East Elmhurst, New York
  • Member since Feb 9, 2015
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Anthony Perez's profile image
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Anthony Perez
  • Flipper
  • from East Elmhurst, New York
  • Member since Feb 9, 2015
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Anthony Perez
  • Flipper
  • East Elmhurst, NY
28
Votes |
47
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Private Lending & Conventional Mortgage Advice

HELOC on free and clear New Jersey Property.

Anthony Perez
  • Flipper
  • East Elmhurst, NY
Posted

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!

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Ray Reed's profile image
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Ray Reed
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  • from Linden, New Jersey
  • Member since Jan 13, 2016
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Ray Reed
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  • from Linden, New Jersey
  • Member since Jan 13, 2016
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Ray Reed
  • Investor
  • Linden, NJ
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Ray Reed
  • Investor
  • Linden, NJ
Replied

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

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