Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 16 years ago on . Most recent reply

User Stats

16
Posts
0
Votes
Figen M.
  • Real Estate Investor
  • hillsborough, NJ
0
Votes |
16
Posts

I need to find money !

Figen M.
  • Real Estate Investor
  • hillsborough, NJ
Posted

Hi:

Although this is the best time to buy foreclosure properties, which I kind find easily,I can not find a bank that I get money from.
I have been buying income producing properties for 3 years. So far nine of them SFH and one is three unit with a store I have long term tenants in all of them. Three of my houses has no mortgage on it. And most of them has equity. I have a very good positive cash flow which I don't touch. ANd my credit score is 735. But still
I can not refinance, I can not get home Equity line of credit,(because banks don't give on investment properties any more even on the ones that I don't have any mortgage.I can not declare any of them as second home because all of them occupied and I live close by (according to guidelines) I applied refinancing for one of the properties that I don't have any mortgage on. When I think about the amount I will pay for closing and the LTV make me think that it is very costly doesn't even worth anymore .
I am very frustrated, I find many good deals and I am missing.
It seems like conventional banks are not option any more.
I am asking to you all experienced investors, what should I do? who should go for money
Thanks

Loading replies...