I need everyone's help!

[James Blue]

I have a 4 plex that I have 1.2 million in equity. I don't want to refinance, but I am hoping to find a line of credit to buy more property, need guidance and a reasonable rate, pleaseeeeee help? Please don't solicit for a loan, but guide me in the right direction. 

[Patricia Steiner]

With your equity, you can obtain a line of credit and hypothecate the property as collateral. "Hypothecation occurs when an asset is pledged as collateral to secure a loan, without giving up title, possession or ownership rights, such as income generated by the asset. (Source: Investopedia).

As a former banker, we did these type of loans on a regular and routine basis. You can pledge the property, the lender will take a second lien position behind your current first mortgage, and it's done. No need to refinance.  The best place to start is with a commercial lender at a bank and/or credit union. It's an easy and cost effective way to accomplish exactly what you're describing.

Congrats on your equity filled property.  Time to make it work even more for you...