Profile picture for drhov

Are there any lenders out there giving equity lines on investment properties with 200k of equity?

I want to convert the basement of my 2-flat into a garden apartment to help increase my income. The principle that is owed is 450k and it was purchased in 2003 for 575k as is. Both units have been rehabbed completely and from what I have seen, similar units in size but not necessarily the amenities or prefarable location are closing around 650k.
  • August 02 2010 - Park Ridge
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

From my experience it would be best to talk with a local bank for a loan of this type.

Such as...http://www.zillow.com/pro ... -Paunan/  

  • August 03 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for David Schwabe

From my experience it would be best to talk with a local bank for a loan of this type.

  • August 03 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.