HELOC on Investment Property

[Nick Sandoval]

I purchased my first investment property (cash) and things are going ok for the most part. Now looking into getting a HELOC to purchase another investment property but haven't had much luck with the big banks as they do not do HELOCs on investment properties. HELP: does anyone know of a bank that does HELOCs on investment properties? An alternative would be to refi but I am trying to avoid refi due to closing costs. BP community, Any advice would be much appreciated! Thanks, Nick

[Tony Wooldridge]

@Nick Sandoval, @Ancel Pratt, @Brett Wells am not sure I can give you all exactly what you are looking for but there are several conversations on this very topic about HELOC's on the site. I was involved in a similar conversation about HELOC's awhile back so I will attach that hyperlink in hopes that it might help. At the very least, it should give you some ideas or some roads to take towards your solution. One recommendation is to get online and write down as many HELOC providers you can find and start calling them. Persistence is the key to success! Here is to wishing you all a successful 2017 in your REI ventures! Link as promised:

https://www.biggerpockets.com/forums/49/topics/165...