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Updated about 7 years ago,
Can I get a HELOC on multiple properties at one time(info inside)
Ok, let's say I want to purchase 3 condos (at 25K each), live in one and rent the other two. Will a bank give me a HELOC for all of these properties? If so, at what percentage of their value? Also, how long would I need to hold them before they would offer this HELOC.
I want this HELOC so that I can purchase more properties shortly after and maybe do a few renovations.
Is this a crazy idea?