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User Stats

5
Posts
0
Votes
George Willey
0
Votes |
5
Posts

Equity Options for Property in an LLC

George Willey
Posted

Looking for some help from the brain trust.

What are my loan or financing options if I want to pull some money out of my rental property that have titled to my LLC? Bonus points if you can suggest lenders in AZ...

I have done a lot of googling and called a couple of local credit unions and have been hitting a snag when I inform them the property is owned by my LLC (both HELOC and Refi).

Am I really down to hard money loans or business loans from the LLC itself?

User Stats

3,558
Posts
1,102
Votes
Erik Estrada
Lender
  • Lender
1,102
Votes |
3,558
Posts
Erik Estrada
Lender
  • Lender
Replied

You can do a 1st or 2nd Mortgage DSCR loan and be able to close in an entity. Rates on a DSCR 1st are pretty low compared to a conventional loan

User Stats

330
Posts
224
Votes
Patrick Roberts
Pro Member
#5 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Charleston, SC
224
Votes |
330
Posts
Patrick Roberts
Pro Member
#5 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Charleston, SC
Replied

There are nonQM lenders who will fund 2nd's on investment properties in LLCs. Not a ton, but they exist. Helocs like this technically exist, but can be complicated to actually close. 

  • Patrick Roberts
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    Time to Refi? Get the Best Loan
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    User Stats

    116
    Posts
    75
    Votes
    Jeremy Holden
    • Real Estate Agent
    • Scottsdale, AZ
    75
    Votes |
    116
    Posts
    Jeremy Holden
    • Real Estate Agent
    • Scottsdale, AZ
    Replied

    Im an investor and agent going through the same process George with property in Phoenix, Mesa, and Glendale. Feel free to shoot me a DM

    User Stats

    1,354
    Posts
    296
    Votes
    Jacob Sherman
    Lender
    Pro Member
    • 12 Penns Trail Suite 138 Newtown, PA 18940
    296
    Votes |
    1,354
    Posts
    Jacob Sherman
    Lender
    Pro Member
    • 12 Penns Trail Suite 138 Newtown, PA 18940
    Replied

    DSCR loans are the best and most convenient way to go

    User Stats

    1,175
    Posts
    1,215
    Votes
    Zach Edelman
    • Lender
    • Austin, TX
    1,215
    Votes |
    1,175
    Posts
    Zach Edelman
    • Lender
    • Austin, TX
    Replied

    You can definitely do a DSCR loan and vest both the loan and title in an LLC simultaneously with the refinance.