How can I take some equity out from my rental portofolio!

Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!

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Miranda Holland

Lender · Macon, GA · Member since 2015 · 191 posts · 59 votes

Quote from @Daniel Tanasa:

Hello!

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!

When it comes to private lending companies, the interest rates for cash out refis are starting somewhere around 9% for borrowers with good credit right now.

The most efficient way to find an institutional lender that will do a HELOC on investment properties might be to go through a licensed mortgage broker

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Miranda Holland
Lender · Macon, GA · Member since 2015 · 191 posts · 59 votes
3y
Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!
When it comes to private lending companies, the interest rates for cash out refis are starting somewhere around 9% for borrowers with good credit right now.

The most efficient way to find an institutional lender that will do a HELOC on investment properties might be to go through a licensed mortgage broker
1 Reply
Issac San Miguel
Lender · Austin Texas · Member since 2022 · 319 posts · 156 votes
3y
Quote from @Miranda Holland:

Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!
When it comes to private lending companies, the interest rates for cash out refis are starting somewhere around 9% for borrowers with good credit right now.

The most efficient way to find an institutional lender that will do a HELOC on investment properties might be to go through a licensed mortgage broker

Ouch! I with a lower LTV I am still in the 7s.
1 Reply
Miranda Holland
Lender · Macon, GA · Member since 2015 · 191 posts · 59 votes
3y
Quote from @Issac San Miguel:

Quote from @Miranda Holland:

Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!
When it comes to private lending companies, the interest rates for cash out refis are starting somewhere around 9% for borrowers with good credit right now.

The most efficient way to find an institutional lender that will do a HELOC on investment properties might be to go through a licensed mortgage broker

Ouch! I with a lower LTV I am still in the 7s.

My statement is based on what I'm seeing for 75% LTV
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Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
3y
Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!

Hey Daniel,
Might want to look into a second position private money or hard money loan. HELOCs on rental properties will be even more rare now because of the market volatility. Happy to connect
[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Lenders don't do HELOC's on investment property in Texas. You can take a business line of credit to access equity or hard money to refinance
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Matthew Gaddis
Member since 2022 · 22 posts · 5 votes
3y
There are a few Lenders that offer NOO Seconds or HELOCS.

The highest CLTV that I have seen is 85%. They are a bit higher in terms of interest rates, but they let you keep a lower interest first position loan in place and the blended interest rate can be better than doing a cash-out refinance.
1 Reply
Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
3y
Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!

@Daniel Tanasa We have a product that will allow you to access equity in your rental portfolio in either first or second position in Texas. Love to speak with you about it.
Hurst Real Estate, INC4.991 Reviews
Website View Page
1 Reply
Lane C.
Rental Property Investor · San Jose, CA · Member since 2020 · 47 posts · 4 votes
3y
@Daniel Tanasa you should look into a RELOC (Rental equity line of credit)
1 Reply
Daniel TanasaBusiness Member
OP
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
3y
Quote from @Miranda Holland:

Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!
When it comes to private lending companies, the interest rates for cash out refis are starting somewhere around 9% for borrowers with good credit right now.

The most efficient way to find an institutional lender that will do a HELOC on investment properties might be to go through a licensed mortgage broker

Thank you for your input Miranda!
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Daniel TanasaBusiness Member
OP
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
3y
Quote from @Jay Hurst:

Quote from @Daniel Tanasa:

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment?

Thanks in advance for your answers!

@Daniel Tanasa We have a product that will allow you to access equity in your rental portfolio in either first or second position in Texas. Love to speak with you about it.

Hello Jay, thanks for that. Let's see what you can do, I will call you again in the morning!
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Daniel TanasaBusiness Member
OP
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
3y
Quote from @Lane C.:

@Daniel Tanasa you should look into a RELOC (Rental equity line of credit)
Is that a thing? Do you know any company that does RELOC?

Thank you Lane!
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