Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

6
Posts
7
Votes
Listiarso Wastuargo
  • Rental Property Investor
  • Seattle
7
Votes |
6
Posts

HELOC on rental property on bad DTI

Listiarso Wastuargo
  • Rental Property Investor
  • Seattle
Posted

I have 2 rental properties which is recently rehabbed (almost 12 months after purchase). I bought them with conventional loan around $80k. I put around $30k repair on each of them. I expect the ARV to be around $180k, though I'll be conservative and put $150k as my target. Both properties are rented for $1600/month.

I want to tap into their equity. But I don't have a job right now due to family reason so my DTI is pretty bad (my other properties are reporting a loss in my tax return last year).

What's the best option that I can use to tap into the equity? I want to use the money to rehab my other property and do another BRRRR. That's why I prefer to do HELOC cuz I want to get low interest rate and a way to easily pay back my loan without penalty.


My credit score is 660.

Any help is appreciated!

Loading replies...