New- Looking to invest in LTR in Indy area using HELOC.
Hello,
I am looking for more information about finding my next deal possibly using a HELOC. Any leads on a lender and info on how it works etc.. I'm thinking I would like to try and find a multiunit in the Indianapolis area. Currently I own 1 LTR in Greenwood, IN and live/own a condo in Los Angeles. Any leads and info are greatly appreciated.
Most Popular Reply
Agreed. Ask your bank that holds the note for your existing property and ask them. You should be able to get a total of 70-80% LTV on your asset. Rates on heloc are usually a little higher. Mine is Prime. But some are prime +1 or even prime plus 2. Maybe you can get better though.
If you have any questions about Indy happy to help.