Lenders that do cash-out refis for LLCs in Kansas City?

[Steve Ramer]

I'm sure it's been asked a million times on this forum, but hopefully not about Kansas City. I figure this is a good way to get started on my forum participation here at BiggerPockets anyway! Looking forward to meeting some of you. I live around Denver, but somehow ended up starting my buy and hold investment career in Missouri.

I've got a couple of properties in Kansas City, one owned free and clear, and the other seller financed with a 25% down payment with a 5-year balloon. One is rented, and the financed one is on the rental market. Both properties were purchased for a total amount around $60K. Does anyone know of or have experience with any lenders in Kansas City, Missouri, that will do cash-out refinance on properties owned by LLCs? Admittedly, I have not done a whole lot of research on this topic other than reading a few somewhat related posts here, but I'm not really sure where to start looking from my current location.

I don't think I could use a portfolio lender, because all I have are these two properties. I'd like to purchase more, but need to free up some extra funds in order to purchase some good solid deals. I can find lenders that will do this on one property if I take it out of my LLC, but I'd rather keep them in. I have no problems with personally guaranteeing the loan, just don't want to re-title.

Currently the financing I have on the one property is at a fairly high rate but when rented the cash flow is still excellent. If I could do a cash-out refinance at even around $50K on it, I'd be making payments just a few dollars higher than what I'm paying now. Between that and my savings, I'd have enough to invest in another solid property with good cash flow.

Thanks for taking your time to read it, and looking I'm forward to hearing from you with suggestions, advice, insults, snide remarks, pretty much whatever!

Thanks,

Steve