Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

7
Posts
2
Votes
Roger G.
  • Investor
  • Hughson, CA
2
Votes |
7
Posts

Rentals under corp hard to refi help

Roger G.
  • Investor
  • Hughson, CA
Posted

I started my business in California flipping about 5 years ago.

I started keeping some properties as rentals under my corporation with hard money loans.

I'm cash flowing even with these hard money loans but I'm trying to refinance so I can use the equity and get rid of the high interest rates but it's been impossible to do.  I have been to 5 different banks including a local credit union bank and none of them have been able to help me. The reasons they have given me are that, I don't show enough income, the houses are in the corporations name or they just plain don't call back. One lender told me that I couldn't get any cash out of these properties because they were in the corps name. That I needed to have them in my name personally for at least six months before they would look at taking cash out. I'm getting really frustrated with these people so I'm looking for answers to my situation because I know there's someone out there that has gone through this

1st  property  owe $27,000 -worth $200k residential 

2nd property owe $100k worth $230k duplex

3rd property owe $67k worth $200k residential 

4th property owe $90k worth $220k duplex

These are all fully rehab properties that I have rented and have equity .

Loading replies...