HELOC Loans under an LLC

[Gabriel Martinez]

Anyone have any luck finding a bank that offers HELOC Loans under an LLC? I have found a bank that allows you to purchase rental property under your own name, but keeping the rental property under your name doesn’t provide any asset protection!

[Andrew Postell]

@Gabriel Martinez ok, that info helps out very much. When talking with banks about this I would ask for "Lines of Credit"...it sounds wierd but saying "HELOC" will actually confuse banks at first. Technically, a HELOC is on a primary home and a Line of Credit is for an investment property. I know this sounds like I'm splitting hairs a bit here but trust me...saying "Line of Credit" will get you to the right place quicker.

My suggestion is to maybe post in the Indiana forum that you are looking for this.  Maybe even say the town that you are looking in.  You might get some better responses there but saying "Line of Credit in Indiana" in your subject line will get more responses. You might get some good locals who have used some banks that can recommend them based on good experience.

My other suggestion is to call banks in the area of the property.  And call the smaller banks first.  If it only has one location...then that is PERFECT.  You will need a smaller lender to have this type of a product.

I hope this information gets you in front of a good product.  Feel free to respond with any other questions.  Thanks!