All Forum Posts by: Ryan McCook

Are there any lenders that offer HELOCs on investment properties? I have 25 properties and would love to somehow use those as collateral for a HELOC - either multiple helocs, or ideally, just one larger line of credit.

However, all properties have mortgages on them with about 40% equity on average. I'm not interested in refinancing and pulling out cash as they are all locked with 30 year fixed rates, with very low interest. For me, I'm interested in HELOCs only.

Anyone find banks that give HELOCS on investment properties? I've got quite a bit of equity over 20+ properties. I'd love to tap into it without doing a full refi.

Here's my scenario:

I financed 4 properties with 1 loan to take advantage of some better pricing. One of the properties was co-owned by me and my sister, the other 3 properties I owned solely in my own LLC.

Is there a way to create some form of agreement (joint venture agreement perhaps) or give her an ownership portion of my LLC, but rather than her owning a certain % of the LLC, we want her to own 50% of the one property.

Appreciate your input.

How do you finance your long term rentals? I'm looking for good financing options to buy a portfolio of 10+ SFR and want long as possible terms/amort. Up til now I've only used conventional financing but have maxed out my 9. I have enough down payment for 20-25% and would love to learn what are sources of financing for others? Is there a way to get a single loan for the entire 10 properites or do I have to do individual loans on each properties? Are 30 year amortization possible? fixed rates? let me know the types of things that are out there. Credit score over 750.

Ok, here's the scenario. I am married, and file my taxes jointly, but am the sole income earner. I have 9 rental properties all 30 year fixed conventional loans. My wife is not a signer on the loans, but on title of the properties only. That means I can't qualify for any more fannie mae/freddie mac loans - and need commercial loans moving forward - but technically she could still get her own 9 loans, but she has no income so would not qualify.

I'm looking at a portfolio of 9 properties, and all of them are under contract with a paying tenant, so they technically can cover the mortgage and then some by themselves, but I still don't think my wife would qualify for a loan, given that she has no income herself.

With rates HISTORICALLY LOW, I started thinking of outside the box ways to get my wife her 9 loans. I started thinking about having a co-signer. I figured no one would do that without a benefit for themselves, so I could compensate them for that, and it would still be a major savings for me. It would obviously have to be someone who trusts me, since they would have to fully understand the potential risk they are taking. But say my cousin or a family member wanted to do that - is that possible? Anyone ever do something like that? What am I missing about this scenario?

and lastly, could I repeat that over and over again? Can someone else sign the note of the loan, and I just be on title only but be the one making all payments and take on the tax obligations, etc.? Meaning - maybe I don't stop at 9, maybe I keep doing that over and over again if I find people interested in signing on our behalf for a payment.

If you have any advice, I welcome your thoughts.

and a follow up to that - technically, could i repeat that over and over again? Can someone else sign the note of the loan, and I just be on title only but be the one making all payments and take on the tax obligations, etc.? Meaning - maybe I don't stop at 9, maybe I keep doing that over and over again if I find people interested in signing on our behalf for a payment. 

Ok, here's the scenario. I am married, and file my taxes jointly, but am the sole income earner. I have 9 rental properties all 30 year fixed conventional loans. My wife is not a signer on the loans, but on title of the properties only. That means I can't qualify for any more fannie mae/freddie mac loans - and need commercial loans moving forward - but technically she could still get her own 9 loans, but she has no income so would not qualify.

I'm looking at a portfolio of 9 properties, and all of them are under contract with a paying tenant, so they technically can cover the mortgage and then some by themselves, but I still don't think my wife would qualify for a loan, given that she has no income herself.

With rates HISTORICALLY LOW, I started thinking of outside the box ways to get my wife her 9 loans. I started thinking about having a co-signer. I figured no one would do that without a benefit for themselves, so I could compensate them for that, and it would still be a major savings for me. It would obviously have to be someone who trusts me, since they would have to fully understand the potential risk they are taking. But say my cousin or a family member wanted to do that - is that possible? Anyone ever do something like that? What am I missing about this scenario? If you have any advice, I welcome your thoughts.

@Bryan Rogers Just curious if you ever ended up selling you 13 and getting an apartment?

I'm really trying to figure out which is the best strategy. I can cash-out refi on some properties and get similar interest rate to what i currently have or even slightly lower interest but I would be starting the 30 year over again whereas I currently have about 4-6 years already paid down. But, I could get a substantial amount of cash out that could aid me in doubling my portfolio, albeit with worse returns given today's market.  Should I continue to enjoy higher returns on the existing property (and grow portfolio slowly), or lower my margins but increase my portfolio size quickly?

@Alan Grobmeier I'm newer to the landlord game, would you suggest holding indefinitely to avoid recapturing depreciation as long as properties cash flow? what's a good end game strategy for someone like me who has 9 30-year fixed loans that cash flow?