Ready for Second Deal-- How to "recycle" my money?

Question

I am almost done with the rehab of my first foreclosure, and I will be holding it and renting it out. Paid 58K + around 10K for fixing it ( no finance- used my own hard saved cash)

Now, the question is, whats the best route to "recycle" my own money and have funds for a second deal? Can i get a HELOC having a corporation 
( property is not under my name but under my brand new corporation)

lets hear some ideas....

Sergio B. · Answer

@Wendell De Guzman....thanks for your reply

#1--> I asked around several banks....most of them are not giving HELOC or first mortgages to LLC's newer than 2 years old      ( even harder if is an investment property)

#2 --> How do you find this kind of deals?

#3 --> Can you elaborate in the 1031 Exchange& Exchange?

#4-> Do you know if the amount of taxes to pay selling the corporation will be less more or the same as selling the house only?

Wendell De Guzman · Answer

Sergio B., you can do:
1. Get a loan against it (either a HELOC or a first mortgage) since property is free and clear; or
2. You can use it as collateral to buy a more expensive property
- for example, I got an apartment building for no money down and took over the loan but I pledged one of my free clear house as collateral if I fail to make the payment
3. You can also do a 1031 Exchange & exchange to a bigger property with a bigger cashflow and the transaction is tax free
4. Since the house is in your corporation, you can also sell your corporation (partially or entirely) to an investor and get cash (of course consult your CPA and real estate attorney in your state if you decide to do this)

Ready for Second Deal--> How to "recycle" my money?