HELOC on 4-unit (DC)

[Andre Simmons]

Hi everyone,

Does anyone know of any companies that will provide a HELOC on a quadplex. It is a owner occupied property but I want to tap into the equity to continue to invest in other properties in the area. I do not want to do a refinance since I was able to secure a 2.25% interest rate during 2020 and the property is cash flowing for me. I purchased the property below market value and also done renovations on 2 of the 4 units while the other 2 units are still in good condition. Most 4 units in my area are going for more than 200k but I haven't had any luck with lenders so far. I am going to continue to call around and try local banks/credit unions in my area but definitely wanted to see if anybody had any insight. The property is located in Washington DC. Thanks!