Ways to get banks money

I have 4 houses currently rented that are free and clear. I have tried to get loans on them even for 50% LTV and no luck mainly because they are in our companies name or a LLC. Im just looking for a way to get some more money in order to keep buying houses. Could I buy a new property in my name and get a "loan" from my company? That way I could still close quickly but then it would be in my name so I could more easily refinance. Any thoughts? Thanks

Kevin Kaczmarek

Real Estate Investor · Fishers, Indiana

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Aug 13 '10, 12:26 AM

Your best bet is to ask family and friends if they will loan you money, and then put a 1st position mortgage on your free and clear properties as collateral. You can also look to contact Self Directed IRA Custodians and find out which of their investors are operating as a "Private Bank". That is a very popular option with IRA holders and there are Billions of dollars available in that arena.

The banks failed us, we need to all grow without banks!

Kevin Kaczmarek, Capital Blueprints, LLC
E-Mail: kevin@capitalblueprints.com
Telephone: 317-288-5498
Create Win-Win-Win Solutions and you never have to worry!

Dustin Gott

Real Estate Investor · St. Paul, Minnesota

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Aug 13 '10, 12:30 AM

I agree and actually have a few private lenders with 1st position mortgages with us but I can always use more money and the banks are typically cheaper than a private lender.

Joshua Holiday

Banker · Westmont, New Jersey

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Aug 13 '10, 04:25 AM

how much money are you looking for ?

Dustin Gott

Real Estate Investor · St. Paul, Minnesota

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Aug 13 '10, 12:03 PM

No particular amount. Just trying to get as much as I can to continue to buy more properties and I thought using the banks money is one more avenue to use and was trying to figure out the way to get the most of it I can.

Celine F.

Real Estate Investor · New Orleans, Louisiana

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Sep 01 '10, 12:56 PM

Sell the houses for a profit and be your own bank. Having large amount of cash into the properties and receiving monthly rental is like having your money in the CD account and getting some kind of small interest. What if you could use your cash and make more purchases and sells and create more profit?

Kevin Amolsch

Hard Money Lender · Lakewood, Colorado

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Sep 01 '10, 01:37 PM

If your bank accounts are with a bank that has more than a handful of branches I would switch banks. You best bet is to start to build a relationship with a small community bank and have them make the loan to your company. You will need to personally sign but community banks understand this stuff and should be able to help. Big banks like Wells Fargo and Bank or America are a waste of your time. Better yet, open accounts with at least two community banks and let them compete for your loans. Let each know that you have accounts at the other bank, It works great.

The IRA lender is a great idea too but from what I have heard IRA custodians are not allowed to refer you because it could be viewed as investment advice which they cant give.

Good luck!!