Updated over 2 years ago on . Most recent reply

HELOCs on 2nd/Investments to Fund Primary Renovation?
I own 6 properties (5 in Nashville, 1 in Georgia) of which 4 have appreciated considerably. My husband is a W-2 employee, I am a 1099. We recently purchased a historic home as our primary and are planning to both renovate and build a DADU. We're looking for approximately $500,000 and would like to pull these funds from 2 of our properties. Any suggestions on lenders who are offering a HELOC on a secondary/investment? What should I consider when going this route vs. a construction loan?