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Updated over 6 years ago on . Most recent reply

Faisal Khan's profile image
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Faisal Khan
  • Member since Oct 24, 2018
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Faisal Khan's profile image
Faisal Khan's profile image
Faisal Khan
  • Member since Oct 24, 2018
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Faisal Khan
1
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6
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Mortgage Brokers & Lenders

Equity on paid off investment properties

Faisal Khan
Posted
Hey guys I have 30 paid off single family and townhomes. I am thinking to use the home equity line on it to purchase land that I can build a townhome community on to sell. The road block I am coming across. The banks are saying I can’t do that with investment properties. I do not want to take a loan on it due to I will be paying more interest vs equity line of credit. Any suggestions ?
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Bob Green's profile image
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Bob Green
  • Lender
  • from Mokena, IL
  • Member since Oct 20, 2014
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Bob Green's profile image
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Bob Green
  • Lender
  • from Mokena, IL
  • Member since Oct 20, 2014
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Bob Green
  • Lender
  • Mokena, IL
261
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Bob Green
  • Lender
  • Mokena, IL
Replied

What state is the land located? Do you live in the same state?

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