Cash out Refi on a duplex owned by LLC

[Derek Strzepa]

Hello,

I fixed up a duplex I bought cheap and rented it out. I don't have a mortgage and am trying to cash out re-fi... I'm being told by my bank I need a good reason for them to lend it. Like a P&S for another property or improvements etc...

I just want the cash to do what I want with (Buy more properties) But they say that is not good enough...

Should I find a new bank? Shouldn't I be able to refi just because?

Thanks

Derek

[Oleg Shalumov]

@Derek Strzepa look for another bank (maybe smaller one) in the area. You could also work with Credit Unions on this. You can even ask for “Line of Credit” for your property which is basically simpler than a Re-Fi