Looking to Refi 4 Unit in Myrtle Beach

[Eric Brust]

Hello BP fam.

I have a 4 unit multifamily in Myrtle Beach that I own outright. There are no existing liens on the property. However I purchased this property using a LOC on a long term stock account that I have. I am treating the LOC as an "interest only balloon" paying the interest monthly and planning to make the balloon payment once I am able to get the cash-out refinance, then using the LOC to purchase another property, rinse and repeat.

The issue I am running into is that NO ONE will give me either a commercial cash out or DSCR loan. My personal income is not great as I make very little money as an individual for tax purposes therefore I am trying to get a commercial loan by just underwriting the LLC I own the property under. As I stated before there is no lien on the property and it has netted $2,200/month (even with the interest payments) since I have purchased it in March of 2021. If there are any lenders that you may know that can help, please let me know.

Thank you all in advance!!

Eric