All Forum Posts by: Account Closed

Greetings, I am interested in leveraging my primary residence (via HELOC) which is held in an LLC. I would like to use these funds to secure an investment property, refinance that property in a little over a year and then use those funds to pay back the HELOC - then repeat again.

I have met with B of A, Wells Fargo, Charlotte Metro, and Blue Harbor. They will not offer HELOCs on properties held in an LLC. I have to deed the property back into my name first. There is no debt on this property and I am the manager of the LLC.

I would appreciate an explanation of how to leverage properties that are held in LLCs. What's the point of using leverage to secure real estate investments if the banks won't allow it? The point of an LLC is protection and I don't want to lower the shield. Note: The banks will allow a business loan secured by the property at a 15 year amortization and 5 year balloon payment. Any guidance would be appreciated!

Thanks Tyion. To my knowledge, the area is not set to appreciate quickly. Property has been on the market about 2 years.

Thanks Suzanne for your recommendation.

I'm trying to understand the numbers on a 5 family building.  Asking $450,000 with annual revenue of about $45,000. Annual Expenses before debt service are about $14,000.  Considering leveraging a property for the 20% down payment but not liking the numbers.  Seems like too little return considering the loan amounts involved.  Any guidance would be greatly appreciated!

Thank you all, for your feedback. I really appreciate it and wish all much success.

Is it standard practice for sellers of multi-family units to withhold P & L and other financial data until an offer is made?  This was brought to my attention and I am having difficulty accepting this.  How is a buyer supposed to make an offer on a property without having all the information to properly analyze it?

Thank you Dawn and Michael.

Thank you Ian. I appreciate the recommendation. Best wishes.

- Ted

Greetings, can anyone recommend a Realtor in the Charlotte, NC area who specializes in working with investors?  I'm looking for an investment purchase specialist, not a cookie cutter listing/buying agent. Any insight would be greatly appreciated.

Hi everyone, I am trying to figure out the best way to finance the purchase of a rental property by leveraging a property that is mortgage free. I'm researching HELOC, Home Equity Loan and Cash Out - Refinance options. I would appreciate any guidance!