Banks for HELOC on Investment Property?

[Ethan Martin]

Hey all, I have one rental that I bought as my primary residence back in 2019. I'm kicking myself for not opening up a HELOC before I moved out and made it an investment, but you live and learn.

I'm partnering with my friend who is actually the reason I'm a lender now (he's an agent and we wanted to learn both sides of the business before investing). We have a hard money lender for a flip, but need to front 15% ARV. We could do this in a few months, but we have a deal now. Both of us have one rental with enough equity, just not sure how to take it out without selling. The cash flows on both are phenomenal, especially considering we both have $0 in each deal using the VA loan, so that's not an option for either of us.

Long term we want to raise enough capital to begin to BRRRR using our own money.

[Calvin Covington]

Try PenFed, I was able to obtain HELOCs on both of my investment properties.