Need LOC On Rental Property
I am looking for a lender in Colorado to give me an LOC on a rental that I own free and clear. My credit score is in the mid 700's, I have strong assets- that's the good part, the bad part is that I do not have a job. Anyone know of a lender who will do this?
I want to purchase a property to fix/flip using the LOC to fund down payment and construction. My rental is worth about $190K. I am just getting started with REI so I cannot show past income from this rental either. Is there a better way to do this???
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