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Updated over 4 years ago, 06/11/2020
Bought Investment Property For Cash With Intentions to Get HELOC
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $200,000
Cash invested: $200,000
Bought a twin house that was converted into a duplex.
Monthly income from 2nd floor is $1,200 and first floor $800.
I plan to tap into equity by getting HELOC, but Im faced with an issue of fining a lender that will open HELOC against investment property. Its very difficult to find one unfortunately. Any suggestions are appreciated!