Loans on Investment Properties

[Marilyn M.]

Hello BP family,

My husband & I have a few rental properties we own outright and are looking to pull out our equity in order to buy more investment properties. Currently, the houses are in our personal names and we will be transferring them into LLC's soon. We are having trouble finding a bank that will lend to us though since they are investment properties and wanted to reach out to the community here for advice. We both have excellent credit and are buy & hold investors. The properties are all rehabbed, rented and cash flowing. So far, we've spoken to:

PenFed: Since we own more than 4 houses, they are treating us as a business and that disqualified us.

Flagstar: No loans on investment properties.

Navy Federal: Would not do loans on doubles/triples, but possibly on our single family rental.

Wells Fargo: Just spoke with them and seems possible, but they only give 60% LTV and not the greatest rate.

It has been hard to find a competent bank agent who is familiar with the products that might suit our situation. Any advice would be greatly appreciated. Thanks, in advance, for all of your help!