Q on Equity line

- I
- irfanroberts
  
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posted
15 years ago

Thu, Jan 15, 2009 5:27 PM

Q on Equity line

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We have a rental property ( townhome) that is fully paid up. It has been continually rented for many years.

I would like to get an equity line- just in case the situation arises where we need cash. I called Schwab and they indicated that they do not have equity lines on "rental property".

Can anyone please let me know which banks / institutions offer such lines of equity on "rental properties"? and if so are there any pointers ie do's and dont's.

The property is in the SF, Bay Area, CA.

Thanks in advance,

Irfan Roberts

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- R
- Ron Peterson
  
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Vote on answer
posted
15 years ago

Fri, Jan 16, 2009 9:47 PM

Are you still taking depreciation on it?

You should be able to sell it for much more than it's worth as a rental property and then won't have to worry about getting cash.

-- Ron

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