All Forum Posts by: Corbin Heald

@Bob Green That makes sense. I'm going to avoid changing the operating agreement though as the distribution would be the same and it would make the taxes a mess.

Thanks for the advice everyone, I'm going to find another set of local lenders and try again. 

A couple of years ago I bought a foreclosed duplex with an LLC formed with my family. I refurbished it and it was occupied for most of last year. Compared with the other houses in the neighborhood it should be worth about double what it was when I bought it.

Nothing is owed on it and I'd like to get a REFI and use the cash for another deal, but I can't find anyone who will lend to me since the LLC has members other than myself. Is there any way to get money out of it or did I just structure it too poorly off the start?

We're looking for contractor recommendation. Duplex was a foreclosure and has numerous small and medium issues including plaster work, plumbing, electrical work, tuck pointing and some other projects. Property is in Shaker Heights. Thanks for any recommendations!