Q&A: Can You Get a HELOC on an Investment Property? – Episode 975

Is it possible to get a home equity line of credit on a rental property? If so, what’s the best way to find and utilize a HELOC? That’s the first question I’m answering on today’s Q&A episode!

This episode of Investing in Real Estate features three listener questions on topics like finding a HELOC, how to start investing with bad credit, and how to learn more about using VA financing to buy rental properties. As always, I appreciate your questions and I hope you find my answers helpful on your investing journey.

On this episode you’ll learn:

• How to get a HELOC for investing.
• Ideas for getting started investing with a low credit score.
• How to learn more about using a VA loan to invest.

How to Get a HELOC for Investing

Obtaining a HELOC for investing in real estate is possible. I will warn you, it might take some tenacity! If the first (or second, or third, or tenth) lender tells you no, I would encourage you to keep shopping around. While it might be difficult to find the right banking product, using a HELOC for investing is a great way to grow your portfolio. I always encourage investors to try small local banks and credit unions first. If you strike out there, check out Lending Tree or contact my friend Dan Kraus at Churchill Mortgage.

Ideas for Getting Started Investing with a Low Credit Score

If your finances aren’t ideal, I’d suggest finding a solid deal that allows you to attract money. In my experience, it doesn’t take a lot of money to get started in real estate if you have grit.

However, if you’re exclusively looking for funding, I can suggest utilizing private money or growing your existing funds through Connect Invest.

How to Learn More About Using a VA Loan to Invest

Using Veterans Affairs financing to get started in real estate can be a powerful strategy. A VA loan has low interest rates and down payments, so if it makes sense for you, I’d recommend buying a performing asset. Friend of the show, Michael Foster, has an amazing book on this strategy. It’s called Military House Hacking: How to Earn Passive Income and Create Generational Wealth.

Ask Me a Question at morrisinvest.com/clayton

Episode Resources
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Dan Kraus at Churchill Mortgage 
How to Get Private Money with Jay Conner 
morrisinvest.com/connect
Military House Hacking by Michael Foster 
morrisinvest.com/Clayton
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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