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Updated over 6 years ago, 05/08/2018

User Stats

9
Posts
3
Votes
Gary Onstad
  • Investor
  • Escondido, CA
3
Votes |
9
Posts

HELOC using an Investment property as collateral?

Gary Onstad
  • Investor
  • Escondido, CA
Posted

I found a property I would like to purchase. I'm in the process of selling my home to fund owner occupy deals on multi family opportunities, but I'm not sure I will get to close of escrow in time to purchase the new place. I can't use my home as collateral on a HELOC while i'm selling it. Is it possible to get a quick HELOC loan using one or both of my investment properties as the collateral so I can have the down payment I need for the investment property? I think there is a lot of potential in this deal so I'm considering bringing in hard money or partners to fund it and rehab or add units. Any ideas are welcome.

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