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Updated about 8 years ago,
cash out Refinancing problems with LLC
I am struggling to refinance my triplex because it is in an llc. I own the triplex out right and believe it will appraise around 230,000. It rents for 2275.00 and the NOI is around 1100.00 per month. I'm looking for 130,000k to get my original investment out and to continue investing. Banks are reluctant because of the llc. I'm considering a personal guaranty but would rather not go that way. Any suggestions?
I recently saw a post about someone purchasing the houses in their name then after the refinancing they changed the deed into a trust. That might work on my next investment. Does anyone have experience with this as well?