Indianapolis, Indiana - Should we buy in our names or in LLC?

[Leon Greene]

Hello everyone,

My wife and I are in the process of buying our first rental property in Indianapolis, Indiana, Marion County (we live in New York City). We are buying and fixing the property up with all cash, but we're hoping to be able to cash-out refinance the property when all is said and done (BRRRR).

It's our first property, so I'm not sure how much equity we'll build in the property through the repairs, so let's assume it's ARV is just what we ultimately pay in cash for it, which would be fine because it's got fantastic cashflow.

Our question is how do we purchase the property so that we will be able to refinance and pull cash out to buy another one, while still being protected from liability? We've already established an LLC in Indiana and we're planning on purchasing the property through the LLC, but our options seem so much more limited on the back end when trying to refinance.

I hear @Brandon Turner talk on the podcast about quick claim deed transfer after you refinance, but it sounds risky. Any advice from investors that have gone this same route or lawyers who have suggestions would be fantastic! My wife and I are both W-2 earners with good credit, so I'd love to leverage our personal situation in financing the first few properties before we get into portfolio loan territory.

Thanks everyone!