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Updated over 2 years ago,
Blanket Business Line of Credits over Multiple Rental Properties
I own an investment LLC with a few partners. We have over $2 million in equity across 9 residential investment properties (13 Units). All of the 9 properties have great 1st lien mortgages with great rates on them. We have already refinanced any of them that made sense before rates rose and all of the properties average 50% LTVs. We plan on keeping these properties and not selling them. I am looking for advice on some great blanket business lines of credit options that could collateralize some or all of them and give us access to that cash in a flexible way. We would love to tap into that equity with a line of credit to either use for hard money loans or to acquire new properties. Looking for decently cheap debt options on the line of credit. Does anyone have any great suggestions on banks/lenders that have products for what I am describing?