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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!

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