Line of Credit for my LLC? (or other financing ideas)

[Steven LaLonde]

Hi all,

Currently, I own a small portfolio of rental properties which are fully paid off and cash flowing well. Looking to expand now, and will need to have access to fresh capital for cash deals when they arise, I am now looking for a line of credit. After talking to several banks I realize it is hard/impossible (?) to get a HELOC against my investment properties since they're all held in LLC (even though they are paid off, etc).

My RE business/LLC was created less than one year ago, so I'm not sure it's 'seasoned' enough for traditional commercial lines of credit, as another option.

I wanted to ask if there are any other ideas for someone in this scenario (fairly newly formed LLC holding paid-off cash flowing houses, looking for ~100k LOC).

Thanks for any/all advice.

Best

SL