Cash out Refi a rental home/condo under an LLC in DC area

[Zach Gordon]

I have been calling around to several large banks to look at financing options for several properties that we are renting out in the DC area. A partner and I own several condos/townhomes and under contract for several more through an LLC that we are 50/50 partners on. We have fixed up the properties significantly and looking to do a cash out refi to pull out most if not all our equity.

Due to our ownership interest being in an LLC, it makes it hard to get a residential loan unless we change the deed to point both our names. We are considering this option but wanted to see if others have an suggestions or lenders that will lend on a 1-4 residential units under an LLC without a limit on number on properties.

Also, does anyone know of a lender that will provide a line of credit using the properties as collateral for quick cash? We will have to wait 6 months to obtain a LTV based on new appraised value vs purchase price which will slow down our purchases. We want to do a line of credit based to pull out some cash for future purchases while waiting out the 6 months for permanent financing.

I appreciate any advice anyone can give,
Zach