I have a NOO triplex, purchased 6/04 for 129K I owe 115K, its worth about 225K. I like to obtain heloc to net me about 50K.
I also have a mortgage/heloc on another property for 53K/103K property worth about 275K.
I just (6/05) purchased condo for 205k with 80/10 of 165K/20K.
Will I qualify for this heloc of 50k?
Located in Phila, PA
I open to all possibilities.
i also need access to more capital to buy more properties.
Have you considered talking to a mortgage lender instead of banks? What about private money? Have any family members that want to make more than what their bonds are yielding? Maybe a joint venture deal with another investor. I’m just throwing ideas at ya. Think any of these could work?