Is ot possible to bundle multiple properties in HELOC

[Arnold B. Guerrero]

Good Evening everyone, Is it possible to bundle properties for a HELOC? My bank tells me they don’t know of any bank that does this. I have two properties in Cali that have about $170k in equity. THAT I LIKE TO USE TO REINVEST. I also have one in Milwaukee that after ARV will be about $60k. I bought it at $28k and repairs $14k All in at $42K after refI 75% of equity would be $45k. WITH A PROFIT OF $2K + PROPERTY AND CASH FLOW. BUT, IF THE VALUE IS LESS, THE LENDERS WONT REFI UNDER $45K. THIS WOULD Be THE BRRR Method. IS ANY OF THIS TRUE OR SHOULD I KEEP LOOKING? Any Advice or Recommendation Would be appreciated. THANK YOU.

[Albert Bui]

Originally posted by @Arnold B. Guerrero:

Good Evening everyone,

Is it possible to bundle properties for a HELOC? My bank tells me they don't know of any bank that does this. I have two properties in Cali that have about $170k in equity. THAT I LIKE TO USE TO REINVEST.

I also have one in Milwaukee that after ARV will be about $60k. I bought it at $28k and repairs $14k All in at $42K after refI 75% of equity would be $45k. WITH A PROFIT OF $2K + PROPERTY AND CASH FLOW. BUT, IF THE VALUE IS LESS, THE LENDERS WONT REFI UNDER $45K. THIS WOULD Be THE BRRR Method.

IS ANY OF THIS TRUE OR SHOULD I KEEP LOOKING? Any Advice or Recommendation Would be appreciated.

THANK YOU.

 Typically only community banks and commercial departments at credit unions will be flexible to this.

The exceptions are national hedge fund based mortgage products like Colony and others that will be able to make one note (mortgage) to you securitized by multiple trust deed's (what you're asking for above from multiple states).

The problem you'll encounter is local community banks or credit unions which only want to securitize properties in their state (single state) or if they have a larger foot print (regional player) then they will only securitize properties typically in their footprint (unless if you have a really good relationship with them).

I noticed you said you had one in CA and one in WI, I'd probably go with a "Colony," type hedge fund lending product on that specific request.

There are others out there that I've seen but nothing off the top of my head at the moment.

Best of luck,