HELOC on Rental properties - Myth or reality !!

[Tejas Shah]

Hello all - I am sure i am not the first one to think about this, but is getting HELOC on rental properties not a thing anymore !!

I have about 7 units (mix of commerical and residential) with good cash flow on all of them. My business partner and I have spoken to about 5-7 different lenders (including one from BP) who have declined HELOC for one or the below reason

- Simply, dont do HELOC on rental (false advertising)

- They want to be primary lien on the property (not sure how that is possible). I currently have a lender and my rates are pretty good (sub 5%). 

I am looking at guidance on  

- Am i looking to getting into unchartered territory here !

- Are there any lenders (national or local to Philadelphia/Pennsylvania) who can help with HELOC on rental properties. Note: I am not looking to move my primarymortgage from my current lender.