Using Apartment Complex to Expand Portfolio

[Rudy Jauregui]

Hello BiggerPockets,

I recently paid off my apartment building in S Los Angeles, Ca. I'd like to further invest in more multifamily buildings in California but am stuck. I attempted to get a LOC on my apartment building but so far lenders I've met only offer a cash out refinance at 65% LTV with 3.8% interest for 5 years. What strategy would you recommend?

My apartment values at minimum $600,000.