Cash out/Refi advice please
I have several fully paid rentals and would like to cash out/refi to buy more. I have excellent credit. I'm running into a wall with lenders telling me I have to pull properties out of LLCs to do the transaction then transfer it back. I'm worried about the legality of doing that and have heard the bank can call the loan due. Also, I'm hearing that if a property is in an LLC, you can only do "Delayed Financing" meaning that the property has to have been purchased within the past six months and then you're only eligible to pull out 70% of the purchase price and in this scenario you still have to take the property out of the LLC. How are investors successfully utilizing the BRRRR strategy when facing the roadblock I'm encountering? Any advice would be appreciated. Thank you Bigger Pockets members!