Portfolio lender, Conventional loan

[Catherine Javier]

I am new to BP and trying to dive into Real Estate. This will be our first Rental hopefully!

My spouse and I offered on a Duplex that we think would cashflow (based on the computations used in BP).

We both just started our W2 jobs as travel nurses last Nov 2021. The lender that we spoke to said that usually lenders would need atleast 12 mos on that certain job. We have been Staff nurses for over a year but only 2 mos as travel nurses. This lender said that 1 option is to use a Portfolio lender which will not check our Salary and Debt to income ratio, (If we understood Correctly). The interest were higher and gives us less cash flow. Also this lender said that we can buy it under our LLC.

Certain things I want to clarify since We are new to this:

1. Can we really purchase the Duplex under an LLC using a Portfolio Lender?

2. Is 7% a good interest rate if using a Portfolio Lender?

3. If we go ahead and use a portfolio lender, put this duplex under the LLC and eventually refinance, can we refi using conventional?

4. And will conventional loan allow that it is under LLC during refi?

Thank you very much!