Best Loan for a Cash Out Refinance on a Duplex in an LLC

[Luke Tetreault]

Hey Guys, I'm sure this is a widely talked about subject but I'm curious what types of loans you guys are using when refinancing out of a property that's in an LLC. Ive used HELOCS in the past before I started purchasing in my LLC but have run into feeling like my local credit unions are very conservative when it comes to "Commercial Loans".

This is a duplex grossing 2000 a month, expenses before a mortgage would roughly 450 for tax, cap ex, insurance etc.. I'm all in at 90,000 between purchase and rehab. 145k appraisal. Which I assumed I would be able to pull out around 98,000 after a refi, including closing costs with a 75% LTV. But my local credit union Commercial Loans are coming out to be well below that 80-84k with 65-70% LTVS and what seems to me very high closing costs due to it being a commercial loan. Just curious if there are better options out there or if this is just my new reality now operating within an LLC. Thanks!