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Line of Credit
Maximize your real estate investments! Don't want to sell but want to buy more property? Consider using the equity in your home with a HELOC (Home Equity Line of Credit). Invest in properties that you can drive appreciation in and grow your portfolio. This is how my family has built most of its wealth here in Louiville.
#5 Medium-Term Rentals Contributor
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- Youngstown, OH
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#5 Medium-Term Rentals Contributor
- Investor
- Youngstown, OH
Through HELOCs on a primary or HELOCs on investment properties?
I'm currently getting a HELOC from a local credit union on one of my rental properties. It is such a great way to get at the equity and still keep the really good underlying mortgage in place.
I'm looking for a lender who can give me a line of credit on my rental portfolio. @Rob Bergeron @Kerry Baird Please let me know which lender can help me with this. Thanks!
Quote from @Jen Hoang:
I'm looking for a lender who can give me a line of credit on my rental portfolio. @Rob Bergeron @Kerry Baird Please let me know which lender can help me with this. Thanks!
Bank of Monticello maybe?
For individual properties, I like Navy Federal due to the long draw period of 20 years and a long repayment period of 20 years. For a portfolio of properties, you might look at the commercial side of Wells Fargo, or small community banks local to the properties. Business Lines of Credit are a different thing than a HELOC.