Cash out with an LLC

[Roy Gottesdiener]

Hi everyone,

I'm a bit confused and hopefully someone can help me figure out the mess.

We are 3 members in an LLC, we purchased a distressed property, renovated it and now want to cash out. I was told by my broker that terms have changed due to Covid, and for us to get a cash out wit a decent interrest we'd have to wait a year, if we want it earlier it would either be based on purchase value with a low interest, or based on appraised value but with a 6-7% interest rate.

Does anyone know if it's possible for us to have a cash out refi earlier than one year, based on appraised value, and not with such high interest?

Thanks!