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Updated over 2 years ago, 03/30/2022
Loan options when member of LLC resides in Property??
Brief summary:
My LLC (3 members) purchased a 2 unit rental property in cash and intended to BRRRR using a cash out refinance.
But one of the members will reside in 1 unit and rent the other.
Can we obtain benefits of primary residence loan (HELOC, home equity) if it remains titled to the LLC?
The goal is to use the equity to acquire more properties, without having the standard 75-80% LTV requirement on a cash out refinance.
Any lenders have a product that can work?
Thanks!
-Colin