Home Equity Loan/HELOC

[Nick Mazzino]

Hello all, I am new to real estate investing and trying to learn as much as possible. I am in Ohio and I have a verbal offer accepted on a duplex. I am using a hard money lender. I will need to draw out the equity of the property to pay off my lender in 6 months. What type of loan can I do this with? I have an LLC and want the property in the LLC. I have talked to several banks and a commercial lender and have got nowhere with home equity loan or home line of credit since it is an investment property I am told they do not deal with these. How are people drawing out equity in investment properties to purchase other properties or pay off lenders? Any help/guidance would be greatly appreciated!