How to cash out on a 3 unit owned by LLC

[Moshe Eisenberg]

Hi guys, I own a 3 unit under my LLC free and clear. I would like to use the equity to buy another property. What would you recommend as my best option? 1- Can I take out like a HELOC on an investment property? 2- Someone mentioned to me that you can't get a mortgage on a property owned by an LLC, and it needs to be owned under a personal name for 6 months before getting a mortgage. What's that all about? Any advice on this would be greatly appreciated. P.s. Please tag my name in your response. For some reason I only get notifications when a reply has my name mentioned in it. Thanks!

[Jon Holdman]

Conventional loans are available only to individuals, not entities.  That's a fannie/freddie rule.  So, properties owned by LLCs cannot be financed with a conventional loan.