Updated over 6 years ago on . Most recent reply
Best Way to Find a HELOC?
Hi all, I've stumbled into a BRRRR situation, and I'm looking to tap into my property's equity to fund my next investment. I currently owe $277,000 on 4-plex worth approx. $800,000 after 10 years of appreciation, forced and market-driven, in Kansas City, MO.
Ideally, I'd like to use a HELOC to fund my next (more intentional) BRRRR. What's the best way to find a HELOC with favorable terms? Local? Big national establishment (PedFed)? Scan the market for hot rates and deals?
Any and all advice is appreciated.
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@AJ Vanderhorst I agree with the above post. Really hard to even find this product. I heard PenFed offers it but they seem to also have a lot of restrictions to their product. Maybe try posting this in the Missouri forum? Assuming the property is in Missouri. But the state forums here on Bigger Pockets do have local people who participate pretty actively. They might be able to help. I think I do know of 1 lender that can lend on a property of that nature in MO....feel free to PM me if you are interested. Thanks!