The prior owner converted the garage into a 2b/1ba private suite (so now I have a 6bed 4bath home - but no garage) a garage is important to add value to the home.Here's to a prosperous 2025!

Hi, Are there any lenders offering HELOCs or second mortgages on rental properties with equity?

The property in question is roughly 2.5 acres.

The goal is to keep these for rentals.I currently own the land personally and am funding the builds with a combination of HELOC and cash - no bank debt tied to these properties specifically.

It's not about being nit-picky—it’s about ensuring the property is safe for residents.

"In a 2016 paper, Mark Zandi, chief economist at Moody’s Analytics, estimated that full privatization of Fannie and Freddie would cost the typical American taking out a new mortgage $1,200 annually.

We are considering becoming a private lender with them and I am doing some background research on him and his companies and wondering if anyone has done any deals with them.

For most of their existence Fannie and Freddie were privatized.  

Did you still have the bad tenant or was the property vacant? 

Quote from @Virginia VanOeveren: To start as a private money lender, educate yourself on real estate investing and lending practices, define clear loan criteria, and conduct thorough due diligence on borrowers and properties.