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Updated over 3 years ago on . Most recent reply

Argi Avetisyan's profile image
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Argi Avetisyan
  • from Los Angeles, CA
  • Member since Feb 28, 2019
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Argi Avetisyan's profile image
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Argi Avetisyan
  • from Los Angeles, CA
  • Member since Feb 28, 2019
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Argi Avetisyan
  • Los Angeles, CA
5
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12
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Creative Real Estate Financing

How to pull cash out of rental that’s worth $55k

Argi Avetisyan
  • Los Angeles, CA
Posted

Hey guys! I own a rental that I bought all-cash, worth about $55k that's currently rented. I would like to pull as much cash out as possible to put into a different project. The property is owned by my LLC. How would you recommend pulling cash out? Thank you..

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Roi Ford's profile image
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Roi Ford
  • Real Estate Agent
  • from Las Vegas, NV
  • Member since Jun 23, 2016
  • Posts 33
  • Votes 22
  • Experience 24 Yrs
  • Investments 1
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Roi Ford's profile image
Roi Ford's profile image
Roi Ford
  • Real Estate Agent
  • from Las Vegas, NV
  • Member since Jun 23, 2016
  • Posts 33
  • Votes 22
  • Experience 24 Yrs
  • Investments 1
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Roi Ford
  • Real Estate Agent
  • Las Vegas, NV
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Roi Ford
  • Real Estate Agent
  • Las Vegas, NV
Replied

I would consider a HELOC loan from a bank. If you don't qualify for that, then I would go with some type of private money financing. Your challenge will be the loan amount. If the value on the house is only $55K most lenders won't touch it. So, shop around a little.

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