Ideas for Unlocking Equity with Multiple Properties

[Jon Licht]

Hi all,

I have a duplex in San Diego, CA. Approximate numbers are $500K bank debt, $800K ARV, 63% LTV. It's a rental & I don't want to sell.

I called PenFed about a HELOC, but they won't underwrite it because I have more than 4 properties. I'm thinking about maybe transferring a few other properties to an LLC and getting them out of my name. Will that help with the HELOC from PenFed?

Any other ideas on financial instruments where I can access the equity in the rental?

Thanks!