I wanted to see what line of credit loan products that are available for commercial. I own several properties 100% that are held within an LLC that I would like to be able to tap the equity without taking out a conventional loan. I know that HELOC loans are not available to commercial investors but looking for something similar. I had planned on doing a BRRRR but with interest rates so high I can't see taking out a 30 year fixed interest loan. It would be nice to have a line of credit that I could quickly tap should a good deal come along.
Property #1 is a duplex that I own outright. It was purchased and renovated as the second property in a BRRRR chain. Funding for purchase and renovations came from cash-out refi on another 4-plex (not property #3) Gross rents $2400.
Property #2 is a 12 unit apartment complex that we paid cash for. We've owned it two years now and have it stabilized, fully rented and with higher rents. Gross Rents $8400
Property #3 is a 4-plex that we paid cash for and renovated. We've owned it three years now having it stabilized and fully rented. Gross Rents $3200