Updated almost 7 years ago on . Most recent reply
Heloc for my rental where to get one
Hello i was hoping to get some advice . I have a rental property in California with about 60000 in equity is it possible to get a home equity line of credit on my rental property? should I use a credit union or hard money lender?
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Lender
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Lender
Pro Member
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Brian Lee Lines of Credit are pretty hard to find. I would suggest to possibly post this in the California forum to see if any local people can guide you here. Also, the dollar figure of equity isn't as important as the % of equity. For example, if you have $60k in equity but that is only 10%...you likely won't have any options for a Line of Credit. Usually the threshold is at 75% or under. Somewhere in there. Good luck!