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Updated almost 9 years ago on . Most recent reply

Sammy Patel's profile image
Sammy Patel's profile image
Sammy Patel
  • from Northern, Virginia
  • Member since Sep 18, 2014
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Sammy Patel's profile image
Sammy Patel's profile image
Sammy Patel
  • from Northern, Virginia
  • Member since Sep 18, 2014
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Sammy Patel
  • Northern, VA
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Starting Out

Property in LLC and then Refi

Sammy Patel
  • Northern, VA
Posted

We are looking to buy a property with hard money for 6 months as a rental unit. My two questions are:

1. Do we have to wait a certain amount of time to refi?

2. If we do want to refi after renting 6 months can we refi if it is in an LLC? Does owning it in an LLC cause problems when we go to refi?

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Jeff B.'s profile image
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Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.'s profile image
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Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
Replied

I believe the refi will be difficult and only to a terrible LTV.

Remember, a legal entity "stands in the place of a real person", and if you were to refi your personal home, they would be looking at your DTI.

This makes the point "Does your LLC have any income to service debt?"

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