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Updated over 1 year ago,
New Investor here, how would you do it, if you could start again?
Hi all,
I've been learning alot about investment properties over the past year or two. I'm currently waiting for a seller to sign my offer on a duplex. I'll be purchasing in cash and then refinancing out ASAP. I plan to have this property in an LLC, but I know that can bring some complications with refinancing. I'm meeting with a few lenders over the next week or two, so I have some options.
From what I understand, upon purchasing the property I'll quick claim the deed into the LLC, but then I'll likely need to transfer it back when I want to refinance. Depending on amount of time I wait, I'm wondering if it may be smart to leave it in my name for a short amount of time, refinance and then quick claim the deed into an LLC?
How would everyone recommend I complete this in the most efficient/smartest way possible? I'll be able to use delayed financing with this, so no waiting period needed, although I still may wait a bit. Not exactly sure. Doing this the correct way is what is most important to me.