Rochester, NY HELOC - Help!

[David Stott]

Hi forums, 

Looking to see if anyone here has experience and can assist my situation.

I've been denied two HELOC requests locally from M&T and Canaidagua NB in recent months. I'd like to obtain a LOC on my primary residence as a safety net only as I ramp up my buy and hold business. I retired from full time work 9 months ago, and have been working at my business full time since. We're recently moved to Rochester, where I have 9 investment properties in addition to our primary residence. Rentals will generate $10k/month income once they are fully performing.

Explanations of denials have been mainly around my inability to show a track record of income from my properties. I have substantial net worth IMO, and a credit score of 790 - - I can't understand why I'm being denied these LOC's when my credit history is impeccable.

Anyone here have advice or tips?   I'd like to not have to go the private lender route b/c of their cost.  Thanks.