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Updated over 5 years ago on . Most recent reply

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Nathan Williams
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172
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recommendations for conventional loans on current rental property

Nathan Williams
Posted

I live in California and have two out of state 2 rental properties, both condos, both paid off.  One is worth about 60K, the other about 50K.  I want to borrow equity from one or both of these to help ramp up on buying more properties but from my understanding many lenders dont deal out loans for this low of value, or dont lend out against condos or investment options.  So I would like to know what would be my best bet for a conventional loan (heloc/equity loan/etc) and if anyone knows of good lenders for this situation.  thanks 

Most Popular Reply

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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
2,584
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3,740
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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied

@Chris Mason, that's a gem! What a great idea! Maybe adjacent to that, would be to call your local title agent and ask who is closing small loans (Realtor or lender, either one) and then reach out that way.  

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