Financing single family residences owned by an LLC
My partner and I own single family rentals through our LLC.
Our LLC paid cash for these properties and they are producing positive returns. We would like to finance these properties to free up capital.
I have called my local bank that I've been doing business with for years and they informed me, they can not finance Single Family Residences owned by corporations.
Is there a law against this, or is this just my banks policy? Are there other avenues for financing these rentals and, if so, are the interest rates competitive?
Thanks,
Josh
Most Popular Reply
You can try smaller community banks as well. Their guidelines can vary from the larger financial institutions. You can also search portfolio lenders, you might across some of the same information as you've fingers with smaller community banks and credit unions but both of those are viable options for your position.
Happy Investing...