Okay you creative financers...

[Monica Davies]

I just discovered the fine print on owning my property in an LLC... you can't do a cash out re-fi through FHA. At least in my state. I have about 20% equity - about $110,000 in my 4 Plex, which I have in an FHA loan. But I can't figure out a way to access it to invest in more property. Lenders are telling me I'd need to put the property back in my name for a year before I could do a cash out re-fi. I could switch to a conventional loan, but then I don't have any cash to pull. My final thought was a HELOC, but so far I've had a hard time getting banks to lend because I don't have enough equity. Thoughts?