HELOC & Strategy

[Dolev Shemesh]

Hello, 

I'm in a process of selling some portion of my residential real estate portfolio to fund a new commercial opportunity. The Plan is to come up with $400k for the down payment and for that I'll need to sell about 3 of my rentals. 2 of them are single family with a ton of upside, so I don't foresee any issues selling them. The third one is a condo that I'm having a hard time selling atm. 

Since this is an all or nothing deal, the challenge is to find buyers for all three properties at the same time. I also have a dead line with the seller of the commercial property. I currently have 2 pending offers on the first 2 properties but no inquiries as of yet on the third one, which lead me to my question: Should I go with a HELOC? And if so, does anyone know a good lender that does HELOC on investment property? My measurements should checks out fine (credit, Income/Debt ratio, etc.).

Thank you for all those who could offer any assistance.

[Amber Stout]

If you decide to move forward with the HELOC on the investment property, please note that it can be challenging to get a HELOC on an investment property. Being an investor and lender myself, I have networked with many local banks and found one bank that is able to do investment HELOCs. Shoot me a DM if you decide to do the investment HELOC route.