Refinancing a Multi-family investment
Hello! I've been flipping houses for 3 years and just recently began holding onto some of the better properties (CAP rate) for rentals. On the BP podcast I keep hearing how all the guests refinance their properties after they buy them cash (some for as much as 75% of the assessed value). . . I bought all of my properties with cash and own them through my LLC. I reached out to several banks today inquiring about refinancing a duplex I own - - - I was told that if my investments property is in an LLC then they can't be refinanced. It needs to be in my personal name. . . I don't understand? I run all my properties through an LLC, as I assume all the guests on BP do, so what to do now?