Lenders that offer lines of credit against rental property in CA?

[Jared Smith]

My wife and I currently own one rental property. It's located in San Diego, CA, and we have a large amount of equity in the property. We're interested in buying additional properties, and would like to get a revolving line of credit on our current rental property to use as a one of many sources of capital to buy and/or repair more rental properties to grow our portfolio. For example, we might BRRRR a property and finance the purchase and repair with a combination of hard money and drawing from the LOC, then refi and pay back the hard money lender and our LOC. We heard about this kind of LOC on a BP episode, but have yet to find lender that offers them. SDCCU and MFCU here in San Diego don't offer them. Any leads would be much appreciated, thanks!

[Dan H.]

This is about 6 to 8 months old. I suspect things may have changed seeing how much else has changed.  

Pen Fed (80% LTV, prime + 1%, <4 properties); bank of the west; CMG Financial (70% LTV); HSBC (70% LTV); Wells Fargo 60% LTV; US Bank 80%; TD Bank; regions Bank; Huntington 80% LTV, 7%; NFCU 80%, 6.5%; Silvergate Bank; Torrey Pines Bank; Bank of Southern California

Good luck