Heloc/2nd On Rehab
I have a few rehabs finished and currently listed for sale. When I purchased them I put 20% down on each. Now I have my 20% equity in those properties plus my rehab costs. Obviously I have also added to the retail price of the properties by fixing them up. In all I have about $1.93mil retail worth of houses, and about $1.2mil in loans. I would like to get a 2nd or HELOC on at least a couple of them so that I have that cash accesible if I need it.
Are the any investor friendly banks who will do 2nds like this. Not care about my high debt(obviously). I have flawless credit, with a score of 720.
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