Hello,

My Name is Ramsey and I am new to BP forums however I have listened to the podcast for about a year now. I am active duty in the Navy and began investing once I moved to Panama City Fl, and could not find a pl...

Thanks,  I am happy to be on here.It is a stable, sort of boring market.If you place a great ad, and screen well you can find tenants pretty quick.Since not much changes in the local economy (university / hospital / military town) the prices do not increase quick, so it is touch to get a lift in value on a building without doing big renos or holding for a long time.Michael P Currie

I've heard several other military members have purchased a house at each duty station and wanted to follow that path. 

Getting a loan from family or friends is out of the picture, i found a local credit union that is willing to let me apply for a home equity loan but that is not guaranteed  and there is also a $300 fee .

Do all banks/credit union need one ?

I am looking for responses from people that has used credit unions in the Chicagoland area and surrounding suburbs for HELOCS.

I tried to do a refinance with my bank Navy Federal Credit Union, but because I don't live in the property I can't do a refinance as a primary or secondary home. 

Smaller banks and credit unions are more known to give LOC's on investment properties, however banks such as Santander also offer HELOCs on residential investment properties at 70% LTV.  

I know we need to setup a separate bank account from our personal finances to run our rental properties business, but not sure if we should go through a "big bank" or "small bank"/credit union.  

Fast forward to now, we have both became licensed Florida real estate agents, with a high focus on military members (since I am still in.)