Refinancing Properties in Connecticut that are a part of an LLC

[Timothy Jacobson]

Good afternoon. I have a couple properties (one a 2-family and one a SFR that we rent to college students) that are under an LLC and are currently mortgaged (for about 2 years) at an interest rate of 6.5%. At this time, is it possible to get an interest rate where is would make sense to refinance (at most, 4.5-5%)? I've heard a lot of different things... Also, any recommendations of brokers or lenders would be great!

[Marc Alberto]

I just refinanced two properties in CT at 4.25%. Both were in LLC's. One property I put into my name for the refi and then moved back into the LLC, this was at a 75% LTV. I had my attorney handle the quit claim into and out of the LLC, it's fairly straight forward, but there are costs associated with it. The second property I worked with a local credit union and was able to refi as an LLC, I was able to do this one at an 80% LTV. There was more paperwork involved with this one, but it was all worth it in the end as these are long term investments for me.