Looking to Get First Cash-Out Refinance Loan for LLC

[Duane Procter]

We acquired three properties in 2017, used a combination of HELOC and cash to make the purchases and associated rehabs, and placed them into an LLC for limiting our liability. Now we are looking to do a cash-out refinance on the properties to pay off the HELOC and free up cash for additional properties. I've contacted several banks, but so far none are interested/willing/able to loan money to an LLC. Has anyone climbed over this hurdle already and could offer tips/suggestions on getting these loans done?

[Sam Grooms]

Two options. 

1) Find a lender that will you give you a single commercial loan covering all three properties in the LLC. Or,

2) Put them back in your personal name, and get adequate insurance to cover any liability. This is likely the cheaper option, because you will get better financing terms.