Pull Cash Out of Rental Properties

[So Da]

Hey All,

I have a rental property in an LLC and I am wanting to pull money out to reinvest in another property. I have perused a HELOC & Cashout refi but those won't seem to work as the banks I have contact will not perform these services for rental properties. Unfortunately, I cant find a method to do this while it's in an LLC. Has anyone had any luck pulling money out with something like this?

Thanks!
 

[Brittany Minocchi]

@So Da@So Da

HELOCs are tough to find on investment properties (especially if they're in an LLC). You could do a cash out refi with a DSCR loan, then the LLC would not be a problem. A closed end HELOAN would also be an option if you don't want to mess with your current interest rate - I know of at least one that allows investment properties in an LLC, up to 4 units I believe, and doesn't have a prepayment penalty. Happy to discuss further if you'd like to connect.