All Forum Posts by: Phillip Lloyd

Thanks Brian,

I requested information from B2R finance and made phone calls.  I had very little success getting information from them.  They answered some questions but wanted me to fill out a rent roll so they can assist further but I'm not even close to that stage.  All I wanted was interest rates and basic information.  My last email did not get a response so I will look else where.  I felt it should not have been that hard.

Thanks for the assistance.

Thanks Josh and Eric,

I'm at least 12 months out from renovating so I have time to research. You confirmed there are banks that will give HELOC to investment properties so that will be my first step. I'll work out the other issues later.

Thanks once again.

Hello World,

I've been making phone calls and researching my situation and still do not have the answer.  So here I am reaching out for help.  

Scenario:

I'm currently under contract for a second home that will be my primary place of residence. I'm liquidating stock for my 20% deposit and almost maxing out my income to debt ratio with this purchase. I have an investment property in Santa Rosa Beach FL that rents year round. It has 200k equity in it. I want to upgrade this property to rent out weekly but cannot get a HELOC on it as its an investment property and not primary place of residence.

How can I get finance to upgrade this property?

Thanks for the help in advance.

Phill