BRRR doesn’t work in Texas

[Watson Hilaire]

Hello BP,

We have a SFR in schertz Texas we purchased in 2014. It's worth about $220k and owe 170k. The reason why I say BRRR doesn't in Texas is because we are trying to get a HELOC and the banks say it is illegal in Texas to do that on an investment property. We have tried several banks and keep getting the same answer. I am sure someone has been successful in this endeavor. Thoughts?

[Greg Scott]

R = Refi, not HELOC