All Forum Posts by: Ryan Jopson

Good Evening;

Has anyone had luck finding a lender willing to underwrite a heloc for non owner occupied investment property (1-4 units)

Any insight, comments, suggestions, recommendations, etc are much appreciated.

edit: I have yet to find a local bank or credit union willing to entertain the idea. Thus I am resorting to my fellow BP members.

Thank you

-Ryan J

Good Evening;

Has anyone had luck finding a lender willing to underwrite a heloc for non owner occupied investment property (1-4 units)

Any insight, comments, suggestions, recommendations, etc are much appreciated.

edit: I have yet to find a local bank or credit union willing to entertain the idea. Thus I am resorting to my fellow BP members.

Thank you

-Ryan J

Good Evening;

Has anyone had luck finding a lender willing to underwrite a heloc for non owner occupied investment property (1-4 units)

Any insight, comments, suggestions, recommendations, etc are much appreciated.

edit: I have yet to find a local bank or credit union willing to entertain the idea. Thus I am resorting to my fellow BP members. 

Thank you

-Ryan J

@Ryan Breen and @Filipe Pereira

Thank you for reaching out and trying to revive this thread. I hope that both of your ventures and business operations are running smoothly.

@Ryan Breen any feedback you could provide from experience gained by being directly in the field would be genuinely helpful.

@Filipe Pereira thank you for the well written and detailed response to the questions mentioned above. I do very much appreciate the information. It all sounds reasonable and is in the realm of what I have seen here recently in Western, MA. 

@Chris Mason thanks for your input and expertise on this

@Kerry Baird Cant thank you enough for taking the time out of your day to provide this list. Certainly sheds some light on the situation and is quality information.

Hey @Jay Hinrichs

Appreciate your input on this, as well as for linking Chris to the post. Yes indeed obtaining a HELOC on investment property would not be likely; maybe there is an opportunity to identify what I am looking for as a "business line of credit". Nonetheless, thanks for tuning in.

Good Afternoon,

My self and a business partner own a portfolio of smaller multifamily properties (2-4 units). We are looking to expand operations and thus are researching the lending market for line of credit opportunities. We have significant equity built into each property however there are underlying factors involved that may not make our situation so vanilla

1) 4 properties are held in one LLC owned 50/50 between myself and business partner

2) 3 properties are held in a different LLC owned 50/50 between my business partner/wife

3) Another property would be identified as a "primary residence" and that is also owned between my business partner and his wife.

4) For reference: I am related to business partner and his wife.

Line of credit we are searching for would be in 2nd position to the mortgages on properties mentioned above.

Again, I understand this request may not be so cut and dry. If anyone has experience with something of this magnitude any expertise would be helpful.

Thoughts, insights, or comments are appreciated.

Thank you

Good Afternoon,

My self and a business partner own a portfolio of smaller multifamily properties (2-4 units). We are looking to expand operations and thus are researching the lending market for line of credit opportunities. We have significant equity built into each property however there are underlying factors involved that may not make our situation so vanilla

1) 4 properties are held in one LLC owned 50/50 between myself and business partner

2) 3 properties are held in a different LLC owned 50/50 between my business partner/wife

3) Another property would be identified as a "primary residence" and that is also owned between my business partner and his wife.

4) For reference: I am related to business partner and his wife.

Line of credit we are searching for would be in 2nd position to the mortgages on properties mentioned above.

Again, I understand this request may not be so cut and dry. If anyone has experience with something of this magnitude any expertise would be helpful.

Thoughts, insights, or comments are appreciated.

Thank you

Good Afternoon, 

My self and a business partner own a portfolio of smaller multifamily properties (2-4 units). We are looking to expand operations and thus are researching the lending market for line of credit opportunities. We have significant equity built into each property however there are underlying factors involved that may not make our situation so vanilla 

1) 4 properties are held in one LLC owned 50/50 between myself and business partner

2) 3 properties are held in a different LLC owned 50/50 between my business partner/wife

3) Another property would be identified as a "primary residence" and that is also owned between my business partner and his wife. 

4) For reference: I am related to business partner and his wife.

Line of credit we are searching for would be in 2nd position to the mortgages on properties mentioned above. 

Again, I understand this request may not be so cut and dry. If anyone has experience with something of this magnitude any expertise would be helpful. 

Thoughts, insights, or comments are appreciated. 

Thank you