Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
so frustrated, can't tap into equity in Texas due to LLC
Hi All, so i posted last week that i have several free and clear properties that I would like to tap into the equity to buy an additional property. Problem is that in Texas by law they don't offer HELOC's on investment properties (well Wells Fargo sort of does). Also, my properties are under my LLC.... which makes it even harder. Commercial portfolio/lines of credit lenders won't lend to LLC properties are zoned residential. So, as of right now after many calls I can't find a way to tap into my equity for my residential investment properties that I own free and clear under an LLC. Anyone else faced with this and found a resolution? Thinking about just using a traditional investment home loan and putting the new property under my name... but not fond of that idea. How are people BRRRR'ing their properties in Texas if they are under an LLC?