Bank recommendation for mortgage/refinance

[Jeff Miller]

Hello all,

We just closed on our first rental property in the Fort Lauderdale, FL area. We bought this all cash in an LLC, Once we get a tenant we are looking to take cash out of the house equity and buy a second property.

Any recommendations of a good local (or national bank) that can help us do that?

[Dave Skow]

@Jeff Miller- if you want to do the loan in the LLC name - you will find very few lenders that will be able to assist .....if this is the case - your first question should be : what lenders can close in a LLC name ...and then go from there ........if you are OK with getting the new loan in your own name - then most lenders should be able to assist ...fyi - if you do the loan within 6 months - you will need to provide papertrail for the lender to show where the funds for the purchase derived from .. if you borrowed / were gifted or used soemones elses funds to close on the purchase you might want to wait 6 mos + to do the cash out refi