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Creative Real Estate Financing
HomeForumsCreative Real Estate FinancingLooking to take out a HELOC to get started in REI
Ryan Schuler's profile image
Ryan Schuler's profile image
Ryan Schuler
  • Rental Property Investor
  • from Memphis, TN
  • Member since Nov 19, 2013
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Ryan Schuler's profile image
Ryan Schuler's profile image
Ryan Schuler
  • Rental Property Investor
  • from Memphis, TN
  • Member since Nov 19, 2013
Connect
Ryan Schuler
  • Rental Property Investor
  • Memphis, TN
18
Votes |
48
Posts
Creative Real Estate Financing

Looking to take out a HELOC to get started in REI

Ryan Schuler
  • Rental Property Investor
  • Memphis, TN
Posted Mar 2 2019, 13:29

Hey Guys!

I am looking into getting a HELOC in the Memphis area. I am trying to find the best rate with lowest fees. I am looking at local banks, but when I googled best rates for HELOC it pulled up a company called Connexus. They are advertising a rate as low as 3.5% for the HELOC, which is lower than the 5 or 5.5% rates I have seen elsewhere.

Anyone have a recommendation on a good place to get a HELOC with low rate? Either local in Memphis or online/elsewhere?

My personal Property is worth about $230k and I owe about $83K on it right now. Looking to take out about 80K to start getting properties under my belt.

Thanks!

Ryan

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