Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

28
Posts
3
Votes
Jason B.
  • Investor
  • Monument, CO
3
Votes |
28
Posts

Need Equity loan or LOC Fast

Jason B.
  • Investor
  • Monument, CO
Posted
I have about $150,000 in equity in my four rental properties. I have about $200,000 of equity in my primary residence. I tried to get a $90,000 line of credit and was denied. The big reason I was denied is because I have an S corporation and do not pay myself much more than the bare minimum of what I need to survive. Even though I have almost all of the $90,000 liquid I was still denied by two banks. The market in Colorado is crazy right now and I cannot find the deals like I have found when I purchased my properties. I am about to list my properties to use the profits to start a franchise. They are going on the market very soon unless I can get approved for a line of credit or equity loan real quick. I really want to keep them but in-order for me to stop leaving my family and working out of the country, I need to start the franchise with the money from my properties or from the line of credit. Any suggestions? Thanks !

Most Popular Reply

User Stats

224
Posts
124
Votes
Rogers Smith
  • Developer
  • Covington, LA
124
Votes |
224
Posts
Rogers Smith
  • Developer
  • Covington, LA
Replied

@Jason B. I suggest first un-hiding your profile.

Loading replies...