HELOC for investors? (Denver)

[Rick Novotny]

Hi BP!

I'm looking for a good bank in the Denver area for a HELOC on a primary residence with roughly $300,000 in equity. It would be used for down-payments or to cash purchase rentals. We would pay these off quickly, or refinance the cash purchases. We tried Chase, but they were weird about it and said they could only give us $20k, which would have been basically worthless to us so we backed out.

It's my business partner's house. I rent a room from him for $800 per month. We own 13 rental units and have another 4plex under contract, scheduled to close on Dec. 20th, 2019. This is going to eat the majority of our remaining liquid capital, so I'm searching for a way to continue growth. Considering the equity in his property, a HELOC seems to be the best approach. While we save quickly from our jobs and rental profits, I really want to turn it up a notch.

Thanks in advance,

Rick