HELOC on properties under an LLC

[Nitanth Vangala]

Hey guys,

I'm just curious if any of you have had problems with taking out HELOCs on properties vested under an LLC. I've been told that I can take out a HELOC however the property has to come out of the LLC and stay under our personal names.

I inquired about doing something similar to a refinance where the property is taken out of the LLC before closing and then put back into it afterwards but apparently this also is not possible. Have you guys had similar issues with this? These particular investment properties are a duplex and a fourplex with Fremont bank and are located in Southern California. Any thoughts?