If you add contingencies don't be surprised if you get rejected (at least in Calif).

Originally posted by Bienes Raices:Originally posted by David Beard: Not sure about any nat'l banks that will do HELOCs on rental property. .TD Bank is doing them--I dont't know if they offer it nationally but they do service a lot of states.Well to follow up I received my rejection for a HELOC for my investment property from TD Bank today.

Normally these things don’t bother me, since I get more rejections than accepted offers in my area, but I passed on another accepted REO offer since this one was more profitable.

I have rejected many applications in the past couple of years, and I can say that I did not see any short sales among them (foreclosures and bankruptcies were seen).

I get offers rejected all the time , just move on to the next one .

Years ago, I was offered (and stupidly rejected) a 15 unit building by my HML, and THEY suggested I move into the top floor unit.The point of all this: think creatively, think outside the box, examine your entire life from the "Lucas INC." point of view.

Question about this: What if you are rejecting an applicant based on the previous landlord reference - does this require providing an adverse action notice? 

I'm just starting my RE career and I'm realizing this point about making offers even if they get rejected.

Why don't you ask bank why they reject you to get the conventional loan?

I never show untilI have a letter of Pre-Approval from a lender noting the specific propertyand another Proof of Funds to cover the offer down payment.I'll the accept/reject the offer, look for the EMD in 5 days AND THEN schedule the walk through.Why so brutal?