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Updated over 6 years ago,
Is ot possible to bundle multiple properties in HELOC
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.