All Forum Posts by: Jeff S.

I have 6 paid for SFH's in my llc. They are all occupied and cashflowing nicely. Is anyone aware of banks that will to a blanket line of credit on these to my llc? Or has anyone had success getting financing of any sort in a situation like this? Or should I stop looking for this product? I've purchased all of these with cash so (I'm fairly risk averse) but would like to take advantage of the equity in these properties and really ramp this thing up. Day job is getting old!

Thanks for your help everyone.

Thank you both for the input. Anyone else have a vision for where we should go from here? How about financing options available to an llc? Are there banks out there that will look at the 6 properties and do a blanket line of credit based on their value? Anyone know of banks doing mortgages to llc's these days?

Thank you in advance for any advice you have. My situation: Myself and a partner own 6 SFH within our llc. We purchased them all with cash starting in March of 2012. They range in value from 60k-130k. They are all currently tenant occupied and bring monthly rents of $900-1200. We started out wanting to just get a taste for what the business was like and see if we liked it. We do, and thus far we've been pretty successful at it. We want to take this to a much bigger place, and make our day jobs optional as quickly (not hasty though) as possible. We also are tired of spending our own money. So, my first question is, where would everyone go from here? Again, the 6 houses are paid for, no lines of credit etc attached. Second, what insurances should we have in place between the two of us, llc etc as far as liability goes? Thank you!