Property in LLC – Financing Suggestions

[Cian R.]

I recently purchased a renovation property using an LLC that was formed specifically for holding the property. It was purchased with all cash so there are no liens on the property. Because the property is held under an LLC, I can't qualify for a HELOC. Any suggestions out there for alternative forms of financing? The property needs all new plumbing and electrical.

[Eric Stets]

Hello Cian.   Do you need funding for the rehab or just cash out and put the house on a mortgage after an appraisal?  

Regardless, in Buffalo I had a cash deal in an LLC that I had re-financed after the reno was completed. It was through Tompkins Bank of Castile, ask for Mark Brooks. Perhaps they can help. Mine is on an 80% LTV on a 20 year note.