Investment Property HELOC Lender
Hello - has anyone had an recent luck in finding a bank that give a HELOC on an investment property? It's worth about $285,000 and I owe about $150,000. I could do a cash out refinance which I intended to do first but my lender who offered the cash out said my options could be better with a HELOC. The fees associated and rates with an investment cash out he said are much higher. Thought I'd see if anyone here had experience with this in 2020. It is a STR so typical show the year lease doesn't work which makes it more complicated. Intended to do typical BRRRR and read the book but since STR it doesn't work the same even though profiting much more now than previous year. Property located in VT, many local lenders/ banks/ CU I've reached out to don't offer it. Thanks!