Need Help with Creative Financing on a Cash Out Refinance!!

[Account Closed]

Hi everyone! Any help with this cash out refinance scenario would be much appreciated.

I’m currently on the back end of a rehab on a property and I’m looking to see if there are any creative ways I can cash out refinance to hold onto this property vs. selling/flipping as it’s in a great up and coming area.

Details are as follows:

- ARV: $515k

- Loan Payback: $276k

- Estimated Monthly Rent (via short term rent): $3k

- Looking for at least 80% Loan to Cost

- ~700 credit score

- In the Columbus, Ohio market

Here’s where it gets tricky...

- The property is under my LLC

- I do not currently have W2 income or 2 years of self employment income verification (rehabbing houses full time)

- I would like to keep the property under my LLC if possible, worst case in my personal name

Thanks everyone and please let me know if I need to provide any more info for suggestions.

[Remington Lyman]

Originally posted by @Account Closed:

Hi everyone! Any help with this cash out refinance scenario would be much appreciated.

I’m currently on the back end of a rehab on a property and I’m looking to see if there are any creative ways I can cash out refinance to hold onto this property vs. selling/flipping as it’s in a great up and coming area.

Details are as follows:

- ARV: $515k

- Loan Payback: $276k

- Estimated Monthly Rent (via short term rent): $3k

- Looking for at least 80% Loan to Cost

- ~700 credit score

- In the Columbus, Ohio market

Here’s where it gets tricky...

- The property is under my LLC

- I do not currently have W2 income or 2 years of self employment income verification (rehabbing houses full time)

- I would like to keep the property under my LLC if possible, worst case in my personal name

Thanks everyone and please let me know if I need to provide any more info for suggestions.

 @Chris Wharton do you have an option for this deal in Columbus, Ohio?