Help!! LLC starting up questions

[Charles Kappe]

Hey,

I have a few questions. regarding

Can you buy a property through an llc with a line of credit private money loan

Can you refinance the investment property to a conventional/long term loan that was bought in cash to cash out and pay off a private money loan

If yes then how long will it have to season the property and show income.

The scenario:

I have a new LLC for Sober living houses. I am going to be having a private money line of credit structured loan. I will buy a house for my type of business at or below the 200k range below market value. For the style of business the start up expense per house is about 18-20k. The recurring expenses monthly are about 3k. The income per month is about 6-11k. The profit after all monthly expenses 1,500-$5,800

Example:

250k line of credit at 10.5% intrest only loan for a 12-18month term.

Total due at terms: $276,250

Total monthly (intrest only): $1,459- $2,188

Purchase price: $200,000

Start up expenses: $18,000-$20,000

Recurring expenses: $3,000

Total monthly income: $6,000-$11,000

Total monthly profit after monthly expenses: $1,513-$5,812

If there's any other information needed to answer the questions please let me know.

Thank you!!

Charles Kappe