HELOC Portfolio Financing

[Lilian Gonzalez]

I have had a few properties in PA and NJ for over 2 years. I would like to see if anybody can recommend a lender for HELOC on one of my investment properties. is my first time doing one, what are the key questions when doing one? thank you

[Andrew Postell]

@Lilian Gonzalez we usually recommend going with some local lenders for this type of thing.  No large, nationally based banks.  So, check in with some other real estate investors in your market on who they use.  Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That’s the best bet.

Also, the biggest question they will want to know is what % of equity do you have in your properties. Meaning, if you have 25% equity...that's not enough to do a HELOC (usually).