All Forum Posts by: Clayton Coombs

@Travis Bowen I cultivated a long list of HELOC providers from people who have closed with those HELOCs on rental properties. They are more difficult to source. You might want to attend a local meetup and ask for recommendations. Also, small community banks and local credit unions tend to offer more flexible lending options. Call and ask each one in your locality. I suggest pulling your own FICO so you can ask about them without each lender pulling your credit.

Can you share a copy of you list? I know many lenders stopped giving HELOC's the past couple years (especially on rentals). I have no problem calling banks/lenders to see if they can help me but if you have a list of who previously loaned it would likely shorten the amount of banks/lenders I'll have to call.

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I good resource is newacunit.com. You can get a price installed right off their website & they are much cheaper.

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Phoenix, Arizona

Quote from @Caroline Gerardo:

None. Zero. HELOC is high risk.

So far that seems to be true. I'll let you know if I come across anyone that can do it.

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Quote from @Dmitriy Fomichenko:

@Clayton Coombs,

Over the years I've assembled a list of lenders offering non-recourse financing to self-directed 401Ks and SD IRAs. You can finance a new purchase or do a cash out refinance, but none of them offer HELOC. So to my knowledge HELOC for retirement accounts do not exist, but if you find one, be sure to comment here for everyone else's benefit.

Thank you for the insight & great list of lenders for non-recourse financing. I'll certainly let you know if I find anyone that offers a non-recourse HELOC.

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I have a self directed 401k in which I buy real estate with. I am required to get a non recourse loan to leverage within my 401k. I know lenders that will give me a non recourse loan but I'm trying to find a lender that can give a non recourse HELOC if they exist... These are rentals (not a primary residence) & held by an LLC that is owned by my 401k. Buying real estate in AZ.

Thanks in advance for any information!

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Are you a member of AZREIA (Arizona Real Estate Investors Association)? They have a monthly meeting which is pretty large. They also have sub groups for fix/flips, rentals, etc. that meet once a month. Check out azreia.org

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@James Lord please send me some details. I may be interested. Thanks

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Thanks @Brenden Mitchum! I'll let her know about these websites. Sounds like she does have someone really serious that she's talking to. We'll see where it leads. Thanks for your help! Send me a message if you want some details & I'll send you what I have.

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@Donna Hampton I believe she did list it in the MLS. She's a licensed broker in Florida.

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My mom has a really successful mobile home park in Panama City Beach Florida that is a cash cow but she's ready to sell. I was going to help he sell it but I'm not sure the best places to post it? I posted in the real estate listings here on bigger pockets, Can I post details in the forums? any other ideas? Thanks for your help!

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All Forum Posts by: Clayton Coombs

Clayton Coombs has started 9 posts and replied 57 times.

Post: HELOC availability on a rental

Post: Cost of AC Replacement In Arizona

Post: Looking for a non recourse lender for a HELOC

Post: Looking for a non recourse lender for a HELOC

Post: Looking for a non recourse lender for a HELOC

Post: Phoenix Real Estate investor meet up

Post: partner on flip in AZ

Post: Best place to share a mobile home park for sale?

Post: Best place to share a mobile home park for sale?

Post: Best place to share a mobile home park for sale?