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Updated almost 11 years ago on . Most recent reply

Ray S.'s profile image
Ray S.'s profile image
Ray S.
  • Investor
  • from Miami Beach, Florida
  • Member since Dec 7, 2014

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123
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Ray S.'s profile image
Ray S.'s profile image
Ray S.
  • Investor
  • from Miami Beach, Florida
  • Member since Dec 7, 2014
Ray S.
  • Investor
  • Miami Beach, FL
19
Votes |
123
Posts
Creative Real Estate Financing

Borrow against property

Ray S.
  • Investor
  • Miami Beach, FL
Posted

I have a property that I currently have listed for sale, it isn't my primary residence. It's paid off 100%. I need to take some debit on it to pay off some contractors and ongoing costs. I can't get a HELOC or a traditional morgage because they tell me the property can't be listed for sale. Is there any kind of loan I could take against the equity in this property?
Thanks!

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Michael Barbari's profile image
Michael Barbari's profile image
Michael Barbari
  • Banker
  • from Downers Grove, IL
  • Member since Oct 1, 2014

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Michael Barbari's profile image
Michael Barbari's profile image
Michael Barbari
  • Banker
  • from Downers Grove, IL
  • Member since Oct 1, 2014
Michael Barbari
  • Banker
  • Downers Grove, IL
107
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396
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Michael Barbari
  • Banker
  • Downers Grove, IL
Replied

@Ray S. 

Take it off MLS for a month, get a heloc, then relist.

  • Michael Barbari
    • 1 Vote
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