What loan can I get with an LLC

[Nicoló Tossici]

Hi, I bought my first rental property with an LLC. We are three partners. What should I do to finance my second property? I tried to speak with some small banks about a cash-out refinance on the first property (we own 100% equity). They told me that we are not approved because we do not have enough personal income.

Moreover, I tried to speak with two private lenders for a loan (not a cash-out this time) and they told me they do not give loans to LLCs. What should I do? Do you guys have advice?

[Issac San Miguel]

Quote from @Nicoló Tossici:

Hi, I bought my first rental property with an LLC. We are three partners. What should I do to finance my second property? I tried to speak with some small banks about a cash-out refinance on the first property (we own 100% equity). They told me that we are not approved because we do not have enough personal income.

Moreover, I tried to speak with two private lenders for a loan (not a cash-out this time) and they told me they do not give loans to LLCs. What should I do? Do you guys have advice?

Hi Nicolo,
As a direct lender we work with only business entities such as your LLC. 

I’ll shoot you a DM to answer any questions you may have.