Updated over 4 years ago on .
HELOC to Cash Out Refinance
My husband and I are looking to purchase our first investment property. Ideally we would like to get a 2-4 unit property and purchase it through an LLC (this LLC is currently being set up). Our goal is eventually owning a large portfolio so we want to start out with our long-term goals in mind which is why we went the LLC route. We are willing to use about $50k cash reserves and an additional $50k HELOC. In a perfect world we would do a cash deal and then cash out refi to buy more properties but I am finding it very hard to find a lender that deals with LLC's so I am very nervous to max out our HELOC and then be stuck. Does anyone have personal experience with a similar situation? Any advice is greatly appreciated! We have been wanting to invest in real estate for years and are determined to push through any obstacles but want to be smart about it!