Hi, I just talked to my banker today about a HeLoc using the equity in my 3 rental properties. Although they are not in the LLC name, I was considering putting them in it, as was advised, for liability purposes. However, my banker said they, nor any bank, would make a HeLoc loan on the LLC, and that I should keep them in my name. She suggested that for liability purposes, my hazard insurance on the properties should be able to carry enough liability ins. for me.
Has anybody else met with this problem?
"...and the Israelites dwelled in the land of Goshen...they acquired land... and they prospered..." (Jan's paraphrase)