Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

186
Posts
62
Votes
Shane Baganz
  • Rental Property Investor
  • Saint Cloud, WI
62
Votes |
186
Posts

2nd Mortgage on LLC Properties

Shane Baganz
  • Rental Property Investor
  • Saint Cloud, WI
Posted

I have two nice cash flowing properties.  Combined they provide about 1K after payments, taxes, insurance, etc.

One is valued at $270k (owe 171k) the other value $110k (owe 57k) I would like to get the equity and continue to build out further assets. I did talk to the bank and they said they don't do business loans. (Both properties in an LLC)

What's the best way to grow out this portfolio?  My assumption is that I will have to get a business loan. However, I am retuired an have no W2 to provide.  My Tricor is 750+

Thanks for any advice!

Loading replies...