Equity Line for Rentals (by John McCabe [OH]) Jan 26, 2022 1:45 PM
Equity Line for Rentals (by Ray-N-Pa [PA]) Jan 26, 2022 2:22 PM
Equity Line for Rentals (by Laura [MD]) Jan 26, 2022 2:40 PM
Equity Line for Rentals (by JB [OR]) Jan 26, 2022 4:15 PM
Equity Line for Rentals (by Bonanza [NC]) Jan 26, 2022 6:30 PM
Equity Line for Rentals (by ned [AL]) Jan 26, 2022 9:05 PM
Equity Line for Rentals (by Nicole [PA]) Jan 27, 2022 8:32 AM
Equity Line for Rentals (by MAP [NY]) Jan 27, 2022 3:04 PM
Equity Line for Rentals (by Pmh [TX]) Jan 27, 2022 7:00 PM
Equity Line for Rentals (by John McCabe [OH]) Posted on: Jan 26, 2022 1:45 PM Message:
Wondering if anyone has Equity Lines on their rentals. I have roughly 20 rentals that are free and clear and looking for the most efficient (cheap) way to access the equity for future purchases and growth. Who has done this or has ideas?
--24.166.xx.xx |
Equity Line for Rentals (by Ray-N-Pa [PA]) Posted on: Jan 26, 2022 2:22 PM Message:
Sure using a HELOC on an owner nonoc is an option for growth.
With the market soon facing some head winds this next 18 months I would want to hedge my bets. That master lease strategy seems like a great way to lock in income while waiting for sales prices to stablize. --24.101.xxx.xxx |
Equity Line for Rentals (by Laura [MD]) Posted on: Jan 26, 2022 2:40 PM Message:
Back in 2000's I was able to get multiple HELCOs against rentals from Bank of America. Once the market crashed they withdrew/reduced the HELCO's. I am still paying some of them back. --108.56.xxx.xx |
Equity Line for Rentals (by JB [OR]) Posted on: Jan 26, 2022 4:15 PM Message:
The banks and CUs, from what I've seen the last several years, seem to have all stopped doing helocs on non-owner occupied.
--73.25.xx.xxx |
Equity Line for Rentals (by Bonanza [NC]) Posted on: Jan 26, 2022 6:30 PM Message:
I have not done any of this personally but you could cash out finance some of the properties from a local bank or lending company.
If you want to do a portfolio of homes maybe talk to the commercial people like foacommercial (the have bad reviews but it will give you something to look at) --65.188.xxx.xxx |
Equity Line for Rentals (by ned [AL]) Posted on: Jan 26, 2022 9:05 PM Message:
I simply use free and clear ones as collateral when needed for new loans. --70.92.xx.xx |
Equity Line for Rentals (by Nicole [PA]) Posted on: Jan 27, 2022 8:32 AM Message:
What you have to be careful of is if you are counting on the funds, they may not be available when you want them as the lenders may freeze and/or lower your line with no notice. It's buried in the paperwork that they can do this.
Last melt down, many if not most of them did this. Suggestion is to get the lines and then pull the funds if your crystal ball sees the economy/financial world is changing. Or get fixed rate conventional refis now and invest the funds... also paying attention to snatch that money back when you see the signs. --98.237.xxx.xx |
Equity Line for Rentals (by MAP [NY]) Posted on: Jan 27, 2022 3:04 PM Message:
Pen Fed Credit Union. --72.231.xxx.xx |
Equity Line for Rentals (by Pmh [TX]) Posted on: Jan 27, 2022 7:00 PM Message:
Ned. when credit freezes like it did in 2008-2009 it doesn’t matter if you own 100%...that is why re is very illiquid & why I will never pay off early on any of the mortgages on my rental houses. at 2.75-3.125 it makes no business sense to pay down on fixed rates.... --107.77.xxx.xxx |
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