Trying to get HELOC on rental property

[Alex Stepanov]

Hello friends,

I am trying to take out a HELOC on one of my rental units (which I own free and clear), and for some reason I cannot find anyone who would be willing to lend. To be specific, I am NOT looking for private/hard money, nor for a conventional mortgage, I specifically want flexibility of HELOC. But for some reason, every bank I tried turned me down because the property is a rental. If you have had any success getting LOC on your rental, could you please share?

Thanks in advance

Alex