Financing Options For Rentals After COVID-19

[Michael Harrill]

After purchasing our first rental property with cash last year and planning our strategy for the remainder of 2020, including cashing out the rental (delayed financing), using the cash leverage to build 4 duplexes, we've come up against some obstacles. Lenders who were chomping at the bit for our business are now pulling back and assessing their risks. Our goal was to keep our rentals in an LLC and finance with a lender through the LLC for liability reasons. However, it's been difficult the past week and a half to get the ball rolling. Of course it would be easier for us and the banks to go the traditional route of financing, but then there are the liability issues, seasoning rules, etc. Any other investors out there in the same boat? If so, how are you dealing with it? I appreciate your time!!