Refinance LLC-owned property

5 Replies

I'm looking for advice on how to refinance a single family home owned by an LLC. I purchased it in cash and am rehabbing it now; the estimated ARV is about $65k. The property is located in Kalamazoo, MI.

Any advice about the best avenue to structure financing or lender recommendations would be appreciated.  My goal is to pull out enough cash to finance my next deal.  (Also, I'm not interested in shuffling the title around to try and obtain conventional financing / avoid due on sale.)

Thanks!

Michael - 
I didn't try real hard - People on here like to talk about portfolio lenders who may do it, but I didn't take the time to research that in my area.  The few credit unions I spoke with would have handled it as a commercial loan, with higher rates & shorter terms.

I haven't worked with them on it yet but I have worked with Amerifirst Bank on mortgages. They also offer investment property loans and I believe equity loans as well. A blanket loan for the current property and new property may be an option as well.

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