Updated over 5 years ago on . Most recent reply
Advice on accessing equity
I own a single family house with no mortgage. I bought it as a flip and listed it 2 months ago. Property has been under contract twice and both buyers walked due to the current pandemic (understandable). I have no interest in putting a tenant in as it is staged and still getting a trickling of showings. The question I have is what is the best way to leverage the equity in the property. It is owned by an LLC and is not commercial property. I guess I could get my hard money lender to lend against it but really want to avoid the points.
Any non HML solutions? Will a commercial lender lend against residential property? I would be fine with a low LTV 65% line.