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Updated over 6 years ago,
Trouble Refinancing as an LLC
Hello everyone! My name is Shelby Osborne and I'm a realtor with Keller Williams in Fayetteville, NC. My partners and I own a business called Five Pillars Real Estate, LLC, where we utilize the BRRRR strategy on residential and commercial real estate.
Our business is new, as we were officially established in May of this year (2018). We're off to a good start, having successfully purchased two properties since then and closing on our third soon. However, now that we've rehabbed and rented out our first property, we're having trouble with refinancing. We want to refinance under our LLC's name but numerous lenders have told us that they'll only refinance under an individual's name.
Has anyone else ran into this issue? If so, what'd you do? We're sure there's a way around this but we haven't figure it out. Hopefully one of you can help!
Thanks so much!
Shelby