Taking out HELOC on LLC property

[Samuel Cardenas]

Good afternoon BP family,

I have been stuck in the same spot for a couple of weeks now and hoping maybe you guys can hear me the right direction. So, I recently launched my RE company LLC and am stuck building credit in order to purchase our next property. We want to take out a HELOC out on one of our properties that we currently own (also LLC'd). Does anyone have pointers on how to build credit efficiently and/or if it's possible to use our personal credit to purchase the next property.

Our Intent is to HELOC on an existing property and purchase another one using the BRRRR strategy.

Thank you guys in advance 🙏

[Tyler Gibson]

@Samuel Cardenas I have a banker friend that essentially told me it was impossible to get a heloc from traditional banks for a residential property titled into my LLC. I found some private lenders that will do a refi but have yet to see a heloc option.