From LLC BRRRR to Cash Out Refi

[Rick Turman]

Looking for some guidance and or advise on how to best approach this. I've purchased a duplex in my LLC almost 6 months ago and just completed the rehab on a 6mo interest only construction note wrapped into a 15yr mortgage at fixed 4%. I got this duplex for a steal and while holding it may have doubled on ARV.

I now have the bottom unit occupied with the upper unit ready to rent. Prior to starting this, I explained to my lender my exact plan and wanted to cash out refi after completion which seemed feasible and was told to return thereafter as there would be zero seasoning. In doing my due diligence with my lender I am now told that a cash out would not be possible unless the title to the property has been in my name as an individual for a minimum of 6 months. (Has been in business name and I am single member LLC for those 6 months does this matter?) That being said, an alternative would be a Rate Term Refi and payoff the existing SB loan.

I understand a Rate Refi would just give me better terms and better rate but I cannot pull the equity out or can I? How can I go about this and still cash out refi? The Rate Term then Refi will force me into pretty much a dbl close correct?

Please help me understand this better or if there are any alternatives. I may just HELOC my way out of this, with the addition of the Rate Term and then I can complete the final 2 RR'S of this BRRRR :-) thanks everyone and looking forward to your responses!

My issue here is now