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Updated over 5 years ago on . Most recent reply

Reese Thomas Jr's profile image
Reese Thomas Jr's profile image
Reese Thomas Jr
  • from Chicago, IL
  • Member since Sep 20, 2017
Connect

User Stats

7
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Reese Thomas Jr's profile image
Reese Thomas Jr's profile image
Reese Thomas Jr
  • from Chicago, IL
  • Member since Sep 20, 2017
Connect
Reese Thomas Jr
  • Chicago, IL
8
Votes |
7
Posts
Mortgage Brokers & Lenders

Community Bank or Credit Union?

Reese Thomas Jr
  • Chicago, IL
Posted

So I am currently doing the Brrrr strategy and I just got my property appraised and found out that it has doubled in value. I’m looking to purchase my 2nd rental and instead of doing another residential, I am looking for something bigger (commercial, 6 units or more).

I want to start a HELOC but want to know from others experience, do a community bank or a credit union work better for this line of credit, and wanting to use the HELOC for investing even relevant to the lender?

Any advise is helpful 😀

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