All Forum Posts by: Anthony Hayes

Does anyone know of a lender who will do a home equity loan (i.e. a second mortgage) on a 2-4 unit multi-family investment property in Columbus, OH? If so, can you provide me with their name/contact info?

For more context, I have a meaningful amount of equity (and cash flow post debt service) in a few deals that I purchased in the last 12-18 months. The interest rates on my existing loans are very low, so I don't want to do a cash out ReFi and have to pay an increased interest rate on the entire loan amount. Therefore, I’d like to keep the initial loans in place and access the equity via a home equity loan (i.e. a second mortgage) that would be subordinate to my existing mortgage.

While I know I can use a HELOC, I a) want to lock in the interest rate today and b) plan to use the money I pull out to purchase more multi-family properties.

Does anyone know of a lender who will do a home equity loan (i.e. a second mortgage) on a 2-4 unit multi-family investment property in Columbus, OH? If so, can you provide me with their name/contact info?

For more context, I have a meaningful amount of equity (and cash flow post debt service) in a few deals that I purchased in the last 12-18 months. The interest rates on my existing loans are very low, so I don't want to do a cash out ReFi and have to pay an increased interest rate on the entire loan amount. Therefore, I’d like to keep the initial loans in place and access the equity via a home equity loan (i.e. a second mortgage) that would be subordinate to my existing mortgage.

While I know I can use a HELOC, I a) want to lock in the interest rate today and b) plan to use the money I pull out to purchase more multi-family properties.

I’m a first time real estate investor looking to purchase 2-4 unit multi-family properties in C+ to B+ areas that require little to no repairs. I would like to generate a 12%+ cash on cash return. Based on what I’ve read in the Columbus forums, Southern Orchards and Franklinton seem like great places to look but would love to hear other’s opinions. Any perspectives you can provide are much appreciated.