Getting Equity Out Of Investment Property

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Getting Equity Out Of Investment Property

Tony Green
Investor · DE · Member since 2019 · 5 posts · 2 votes

Good morning, does anyone know of additional ways to get equity out of an investment property besides doing a cash out refinance?

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Rivers Fike
Lender · Member since 2023 · 52 posts · 18 votes
3y

You can get a second position private loan to access the equity in your investment property. This can be a good option if you have a low interest first position loan. 

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  • John CardinalePro Member
    Member since 2021 · 76 posts · 44 votes
    3y

    HELOC may be your only other option.

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  • Rivers Fike
    Lender · Member since 2023 · 52 posts · 18 votes
    3y

    You can get a second position private loan to access the equity in your investment property. This can be a good option if you have a low interest first position loan. 

    1Reply
  • Tony Green
    OP
    Investor · DE · Member since 2019 · 5 posts · 2 votes
    3y

    Thank you for your suggestions.

    0Reply
  • Doug Smith
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    3y

    I've actually put 3 loans into underwriting in the past 7 days that are 2nd mortgages (installment loans) on investment properties. They aren't cheap (10%-14%), but they can be done. 

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  • Alan Nelson
    Lender · Indianapolis, IN · Member since 2019 · 53 posts · 19 votes
    3y

    @Doug Smith, that is good to know. In terms of underwriting criteria, what kind of cumulative LTV are you seeing for 2nd position?

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  • Doug Smith
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    3y
    Quote from @Alan Nelson:

    @Doug Smith, that is good to know. In terms of underwriting criteria, what kind of cumulative LTV are you seeing for 2nd position?

    Investment 2nds cap out at 80% or less, depending upon several factors including the credit score of the guarantor.
    1Reply
  • Alan Nelson
    Lender · Indianapolis, IN · Member since 2019 · 53 posts · 19 votes
    3y

    Thanks @Doug Smith

    0Reply
  • Deitra Jones
    Member since 2022 · 9 posts · 1 vote
    3y

    Navy Federal Credit Union does HELOC on investment property. I think they only do up to a 100k, but you can try for more.

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  • Tony Green
    OP
    Investor · DE · Member since 2019 · 5 posts · 2 votes
    3y

    Thank you @Deitra Jones

    0Reply
  • Ryan Carlin
    Member since 2022 · 6 posts · 5 votes
    2y
    Quote from @Rivers Fike:

    You can get a second position private loan to access the equity in your investment property. This can be a good option if you have a low interest first position loan. 

     Thanks @Rivers Fike. can you point me in the direction of bank/company that can support a second position private loan? I'd like to learn more. Thanks

    1Reply
  • Kim LeduffPro Member
    Member since 2020 · 39 posts · 17 votes
    2y

    @Rivers Fikee hi! I’d also be interested if you happen to have a bank in which I could get a 2nd position loan 

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  • Rivers Fike
    Lender · Member since 2023 · 52 posts · 18 votes
    2y
    Quote from @Ryan Carlin:
    Quote from @Rivers Fike:

    You can get a second position private loan to access the equity in your investment property. This can be a good option if you have a low interest first position loan. 

     Thanks @Rivers Fike. can you point me in the direction of bank/company that can support a second position private loan? I'd like to learn more. Thanks


     Message me directly and I will be happy to share more details. 

    0Reply
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