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Updated 14 days ago,

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4
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Louis Hamilton
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4
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HELOC Best Option - Rental Property

Louis Hamilton
Posted

Good afternoon, 

I currently live in the UK in a property owned here with my partner, I have two properties in WA- One is a long term rental property with no mortgage that I inherited in 2020 and the other is currently used as an AirBnb with a mortgage that I am still paying and have been for the past 4 years.

I am looking to sell the house that has no mortgage however we have to wait untill June for the tenants to move out and it is unlikely that it will sell before then as it needs some work done to clean it up for listing.

What are my options currently? I am looking to for around $150,000 to keep me going for the next six months while we await this property selling. Is my only option a HELOC and can I even get one on this property thats rented.

Many thanks

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