Resources for mortgages - cash out investments properties

[Bret Kennedy]

HI all. I have a 2 main questions. 

1) I really need to get more information on mortgages. The different kinds of them available as an investor, who to speak to that can help me with this information? or any online resources you suggest that I can read more about these. Using entities V personal for investment mortgages etc

2) I currently have 2 properties in VA ( I am based in CA) I have a rental that has basically seasoned (6 months of a hard money loan) and I want to refinance to a better rate. The first offer I got though was for 9%, and the repayments of the loan were more than the hard money loan I have. So are there any Mortgage brokers licensed in all 50 states or in VA that I can speak with that can help with a refinance? this is a little time sensitive so would to chat as soon as possible.

regards

Bret

[Stephanie P.]

@Bret Kennedy

You got some great responses from @Harjeet Bhatti, @Jerry Padilla 

@Albert Bui and @Shaun Weekes.  Take the ball and run with it.  

Conventional financing does not allow for LLC's (although they do allow for the time a property was in the LLC to count toward off setting the seasoning requirement). If you have two hard money loans on two properties and they're in an LLC, you would have to put them into your name to qualify for conventional financing. Otherwise, use a portfolio lender. It will be a more expensive option so be prepared. Another option would be put them in your personal name and get an umbrella liability policy. Lots of threads on BP about one versus the other.

Best of luck

Stephanie