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Updated over 5 years ago,
Best Finance options for refi on a rehab loan in a LLC
Hello,
I am looking for some advice and possible contacts. Currently, I have one property in an LLC which was financed as a rehab loan. I have since fixed it up and got tenants in there. I am now currently looking to refi in order to lock in a lower % rate and take some cash out for my next property.
I am having some difficulty in finding a finance company that will offer the LLC a loan. I am currently unemployed and trying to do real estate full time. I do have some cash reserves. I also have two other properties which are not LLC'd currently.
Could anyone possibly provide me some insight on how best to get a loan for this LLC? Contacts for financing or where to look would be great! I was thinking ultimately a portfolio loan but I have 3 single family homes at the moment and was under the impression you need 4?
Any help with this matter would be greatly appreciated.
Thanks in advance!