The downer is that financing through an LLC would mean “commercial loan” which has a high interest rate of nearly 9% in today’s high rate environment.

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Challenges?

The 38128 is slightly below the median and is in a decent area, but definitely an area on the more challenged end of the spectrum in Memphis. 

Challenges?

The challenge, as you’ve discovered, is that traditional HELOC lenders typically want the property titled in a personal name rather than an LLC.

Your situation sounds challenging. 

additional challenges are the inventory shortage and good contractors being extremely busy. 

The market there has been exceptional for me, but not without its challenges.

That property is now a reliable source of rental income and a constant reminder that success starts with taking action, learning on the fly, and embracing challenges head-on.