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Updated about 7 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Rental Property Investor
  • from Houston, TX
  • Member since Jan 4, 2018
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Rental Property Investor
  • from Houston, TX
  • Member since Jan 4, 2018
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Account Closed
  • Rental Property Investor
  • Houston, TX
56
Votes |
106
Posts
Multi-Family and Apartment Investing

HELOC on just close property

Account Closed
  • Rental Property Investor
  • Houston, TX
Posted

Hi all, 

I just closed on a property the day before yesterday. I found another one and is going to contract. I am a bit short of money for 25% down and I am thinking HELOC on the property on just closed property. Is that possible?

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Percy N.'s profile image
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Percy N.
  • Developer
  • from Philadelphia, PA
  • Member since Aug 27, 2015
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Percy N.'s profile image
Percy N.'s profile image
Percy N.
  • Developer
  • from Philadelphia, PA
  • Member since Aug 27, 2015
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Percy N.
  • Developer
  • Philadelphia, PA
900
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2,067
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Percy N.
  • Developer
  • Philadelphia, PA
Replied

If this is an investment property, you will need a commercial LOC.

These generally have lower LTV and higher interest rates.

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