No doc / stated income refinancing

[John Smith]

Hi Guys, Could you please advise me on the following situation:
I have a property free and clear under the name of LLC. I would like to get some money out for another deal. Is there any type of stated income refinancing? 50% LTV is fine with me.
Thank you

[J Scott]

Originally posted by Thomas Vallarino:

A hard money loan is your best bet. Banks and Credit unions won't do it.

I definitely disagree. If you have decent credit, it's rented and the DSCR is good (above 1.5), there are likely portfolio lenders out there who will be happy to cash you out at 50%.

Start talking to your really small, local banks and your local commercial banks.