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Updated 17 days ago, 11/15/2024

User Stats

18
Posts
8
Votes
Matthew Barbaccia
  • Rental Property Investor
  • Rochester NY
8
Votes |
18
Posts

Applying for a HELOC with an investor friendly institution

Matthew Barbaccia
  • Rental Property Investor
  • Rochester NY
Posted

Hey BP peeps,

When seeking a HELOC, does anyone know of a financial institution that works well with clients that lack W2 income? Most if not all of my income appears on my Schedule E as rental income from a college rental portfolio that I self manage. I have 3+ years of rental history with these income streams. I recently bought a primary residence all cash and would like to put a HELOC on the property to use as a revolving line of credit for various real estate projects I am working on. If anyone has any recs, I'd greatly appreciate it.

Many thanks!

-Matt

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