Looking for Private/HM Lenders For 75% LTV 2nd Mortgage on 4Plex?

[Jay Hunt]

Hi!

So I have a 4-plex in LA that I've owned for about 10 years, and it has a nice bit of equity (about 42-49% worth, depending on the valuation/appraisal; I--of course--think it's the latter, lol). I'd like to get a second mortgage on said 4-plex so that 1st and 2nd add up to 75-80% LTV, but there seems to be a ceiling of around 65%, 70% tops. The plan would be to use the income to put $$ down on a new 4plex in a neighborhood that's likely to appreciate in value because of heavy development there.

Question is: anyone heard of anyone doing a 75-80% LTV on a second mortgage for an investment property? I'd rather avoid a cash out refi since my current fixed rate is great and I'm unlikely to be able to re-refi in the future for anything close in 2-3 years. The cash flow from the rents look to be able to cover both mortgage payments w/the first having an escrow account, even.

Open to suggestions, thanks!