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HomeForumsPrivate Lending & Conventional Mortgage AdviceHELOC on a Rental property
Jeff Payne's profile image
Jeff Payne's profile image
Jeff Payne
  • Member since Feb 24, 2018
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Jeff Payne's profile image
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Jeff Payne
  • Member since Feb 24, 2018
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Jeff Payne
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Private Lending & Conventional Mortgage Advice

HELOC on a Rental property

Jeff Payne
Posted May 28 2019, 22:31

Hello everyone, I just had my 1st 2 flip opportunities come up in the phoenix area at the same time. i have 6 rental properties with lots of equity in them. i just took a heloc on my personal residence for 100k(with flagstar). id like to get approval for another 100k and do another heloc on a rental property so i can buy the flips with cash.  what bank/provider/idea would you recommend for the 2nd heloc? flagstar wont do it unless 1 of the properties is a 2nd home/vacation rental.THANK YOU!

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