Cash out Refi for Investment Property

[Heath Shepard]

Hi there everyone!

I am having such a hard time getting my money out of a house that I paid cash for. I looked at getting a HELOC but apparently, I can if it's not my primary residence. I can't seem to find a bank that will do a cash out refi because it's an investment property. Do y'all know if any banks that would be able to help me? Preferable one that has great rates!

Thanks, 

[Sabrina Sanchez]

Hi Phyllis,

How many banks have you tried? I would keep trying more banks especially the small ones, local ones and credit unions. Sometimes you'll find a special loan types at those types of banks. Also see if you can start building relationships with them before you try and get something from them. You'll be surprised what they'd be willing to do once a relationship is established.