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15
Posts
9
Votes
Sean Wilt
  • Investor
  • Rome GA
9
Votes |
15
Posts

HELOC out of STVR Property

Sean Wilt
  • Investor
  • Rome GA
Posted

Hello,

I have 2 full time STVR Properties that have substantial home equity ($400k each). I am looking to be more active in real estate investing primarily in shorter term fix and flips. I spoke to my banker today and he indicated that they won't do a HELOC out of a home that is a rental - only from my personal residence. Is this typical? I also have substantial equity in my personal residence, but just something about borrowing from my life home makes me uncomfortable. Anyone know an option to get funds out of my STVRs on favorable terms? Looking for a LOC that I can get in and out of quickly and easily as I find deals and then cash out of deals.

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