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Updated almost 4 years ago,

Patrick Strain's profile image
Patrick Strain's profile image
Patrick Strain
  • Member since Apr 26, 2018
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61
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22
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Patrick Strain's profile image
Patrick Strain's profile image
Patrick Strain
  • Member since Apr 26, 2018
Connect
Patrick Strain
22
Votes |
61
Posts
General Landlording & Rental Properties

HELOC on rental property.

Patrick Strain
Posted

I have a six unit rental property which I own outright. I'd estimate the value of the property at around $250k. I'd like to open a HELOC for future investments, but my main bank doesn't allow you to use rental properties for collateral. Apparently, this is fairly common. Has this been the case for most of you? Do you have recommendations for national banks that may lend in this situation?

Thanks,

Patrick

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