Good afternoon, What are the current options to pull equity out of a short term rental property in an LLC?

This method allowed us to negotiate favorable terms without putting any money upfront.

Looking at two potential ways to buy real estate for long term hold rental. property A assume the loan on a property with no equity at 6% interest rate.

If the lease is silent on the issue, you should give reasonable notice (normally 30-60 days prior to end of lease term).

They will usually issue an LOI with the proposed terms and they are subject to change during the course of UW.

@Louis AlumbaughOne thing to watch out for is that most lenders will only only at long term lease market data on the refinance. 

Our portfolio in Illinois (close to Chicago):All properties in this portfolio are the exact same layout in terms of sq ft and having 2 bedroom and 1 bathroom and are Condos in a 4 unit building Only difference is when each unit was renovated or not.

I've been a full-time REALTOR since 2010 and have a small portfolio (3) of long-term rentals.

Still working on terms and waiting on appraisal.Any information is welcome and greatly appreciated!

Closing with our backend buyer for $425,000 on March 31st, 2024 we witness the culmination of our efforts, a testament to the power of vision and perseverance in the world of real estate.