Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

Account Closed
  • Remote
19
Votes |
39
Posts

HELOC on non owner occupied property

Account Closed
  • Remote
Posted
I have a 3 unit in northwest Ohio that I bought with cash at tax auction, needing $60k in rehab. Current Reserves I have about $20k. One of of my rental units SFR appraises at $50k. I own that unit free and clear. But with renters in place I am having trouble finding the lender to accommodate a HELOC hopefully about 80% LTV Ratio so about $40k so I can complete the rehab and put tenants in place. Ideas or advice on what lenders in Ohio? I feel as if national lenders do not want to loan HELOCs on non owner occupied properties with the low amount of only $40k. Thank you for anyone taking time to respond!

Loading replies...