Refinance from personal name to LLC and get a business LOC

3 Replies

We are trying to grow the business by increasing our portfolio of rentals and do some fix and flips. We've done a couple of successful fix and flips but want to get more serious about it. But like a lot of people cash is an issue. And our current properties are held in my name, not our LLC. We had to do that to get the mortgages early on and then some Home Equity Lines of Credit (HELOCs) on some of our rental properties. But we want to reduce my personal exposure by refinancing the properties that have mortgages in my name into our LLC. And at the same time get a business line of credit (BLOC) using the properties we have as collateral. We thought we found a bank that would do that but when it went to underwriting the final offer was no where near what the our loan officer said it would be. So I'm hoping someone has a lead on a lender who would is doing refis from a personal name into an LLC and also providing a substantial BLOC. I've learned that BLOCs are tied more to NOI and not property appraised value. Which is different than HELOCs. So if you have contact names I would be very grateful. Our business is centered in Charlotte, NC.


Hi Jim,

I don't have the exact answer for you but I'm going through the same thing right now. Do you have umrella policies on your rentals now? Is the main reason you want to move them into LLC for BLOC or protection?

Hi @Jordan Whitworth , thanks for the response.  Yes, I do have an umbrella policy.  But my lawyer has strongly urged me to get the properties out of my name.  It reduces personal liability and its a lot easier to deal with when I pass.  Let's face it, no one lasts forever.  And because of COVID everyone seems to have suspended HELOCs on rentals.  If I could find someone to do HELOCs on a couple of my properties in my name I would be willing to to do that.  But I've been making calls for days and no luck.

Best of luck on your investing!


I had the same issue trying to get HELOC's on the rental in my name. I just had moved them into LLC's yet because i didn't want my loan to get called and have to get a commercial loan on them. My rates are so low on my properties right now. Let me know what you find out.