New to the business; have four homes remodeled and one line of credit loan. Best rout

[Tiffany Smith]

Looking for a game plan and general advice

Purchased four homes on foreclosure auction.

I have a landscaping business; and I got a line of credit loan to invest in one property with the idea of moving my business to said location. A line of credit loan was all I was offered as the homes needed repaired.

I rehabbed the home and would like to convert the loan. It’s a small loan of only 75,000. Tried to refi but they’re saying a bunch of things now like—I need to own it a period of time, what if I owe people for the repairs, what if this and that—how do they justify its value and so on. They even said they needed to come inside and look at it. The bank not an appraiser. I offered an appraisal.

I have four homes each valued between 150-175,000 probably. No mortgages.

I am using my landscaping profit to fix the homes and the lines feel like they’re getting blurred with the money and the businesses.

Trying to come up with a game plan for how I can pay off that loan and get my equity out of these homes to continue with the process of buying and fixing homes. I think I would try to do some sort of renting but I would also be open to selling.

What would you do with four homes ?

Rent? Flip? Cash out refi? I just am overwhelmed with the options.