Getting Discouraged. We own them, but cant cash out
Our LLC owns a duplex (worth 65k) and a SFH (worth 50) outright. We paid cash, fixed them up, and they are rented out for about 6 months now. We are trying to pull the equity out of them in the form of a 30 year fixed. But after talking with 5 different mortgage financing companies, 3 banks local to me (including my banks), and 5 banks local to the properties, nobody can do it. Either the loan would be too small, or because its owned by the LLC they cant get a conventional, Heloc, or anything (even if transferred to me personally), or something else or another. Credit is over 750, no problems with finances.... What's next?????? Grrr. Any advice is appreciated.