There are some lenders that will do HELOCs on co-ops but again, your co-op will probably have to give approval.If it's not cash flowing great then it might not be a bad idea to sell and get into something with a better return.

When a co-op caps the LTV to 75% that typically means no additional financing (syndication, Heloc, etc) above the 75%.

Then I gave him an example of the past year where I bought a property for 193k ($174k was from a hard money lender and 19k was from an investor) then we rehabbed it for 35k, (half of which came from the investor and the other half came from my HELOC).

Due to a divorce, I was forced to take out a 401k loan in order to pay off 2 HELOCs totaling $30k that had been used for apartment renovations.

Currently getting a HELOC set up so I can utilize hard money for acquisition. 

Below are the financing options available from their lender:1) HELOC: limit of $120k and interest rate of 4%. 2) Refinance primary residence: circa $4k closing costs, 2.75% interest for 15 years, 3.25% for 30 years. 3) Investment property mortgage: circa $3k closing costs, 3.00% interest for 15 years, 3.75% for 30 years.

Pros and cons of Marcus vs HELOC?

But we were able to get it valued enough to pull a 100K HELOC out after we added a master suite.

My personal solution is that if we can't do it, I'll identify the overlay and refer it out (in my case this is most typically HELOCs, since minimal/no overlays on the 30YF 1st mortgages was a big part of my 'employer shopping' last time I switched where I hang my license).

Can I buy an investment via HELOC then create an LLC and refi?