Leveraging options on a cheap Double unit owned by LLC

3 Replies

Hello,

I own a SMF (2 units) free and clear (would appraise for 60-70k) and I'm looking for a way to pull money towards my next deal. I've reached out to a few small banks and i got the same answer "we don't lend below 75K" or "we don't lend if the house is on LLC"

I tried to get a HELOC but i got the answer "we don't do HELOC if it's not an owner occupied and it's on LLC"

Any ideas?

@Jo W. , there a few national credit unions that do HELOCs on investment properties: Pen Fed & Navy Federal.

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