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Updated almost 7 years ago,

User Stats

3
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0
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Corbin Heald
  • Investor
  • Cleveland, OH
0
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3
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REFI on a Duplex owned by a multi-member LLC

Corbin Heald
  • Investor
  • Cleveland, OH
Posted

A couple of years ago I bought a foreclosed duplex with an LLC formed with my family. I refurbished it and it was occupied for most of last year. Compared with the other houses in the neighborhood it should be worth about double what it was when I bought it.

Nothing is owed on it and I'd like to get a REFI and use the cash for another deal, but I can't find anyone who will lend to me since the LLC has members other than myself. Is there any way to get money out of it or did I just structure it too poorly off the start?

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