Rental Property Investor · Chicago, IL · Member since 2018 · 19 posts · 2 votes
Hi all,
Looking for some advice/direction- So I have 3 SFH rentals that are close to being paid off, 1 house that i live in with tons of equity and a nicely cash flowing triplex that i just bought. i also have a business that produces a very healthy amount of cash flow.... I am looking to purchase larger deals at this time, anywhere from 12-48 units. I am torn on what to do... do i pull HELOC's on each property and then a credit line on my business? Do I sell the SFH's? My main focus is to have more buying power and speed when shopping deals... and i want to buy apartments.
Investor · Ocala, FL · Member since 2018 · 144 posts · 101 votes
7y
Talk to a bank in your area known for financing commercial deals. I would think with your cashflow and equity you would have no problem getting a commercial loan. Get some guidance on what makes sense from the lender's perspective. You don't want to start cobbling together lots of small lines when the time comes to actually do a deal. A commercial broker may also be able to steer you in the right direction.