NEED SOME HELP ! Refinancing a 100% owned property

[Neil Da Silva]

Hey guys,

I wanna start out by saying I found BP two days ago and I have not done anything outside of real estate since then! Podcast after Podcast I'm absolutely obsessed with this community you guys are awesome!

I would normally be self sufficient and do some research on the forums before asking questions as I'm sure my questions have already been answered BUT, when I was listening to a podcast @Joshua Dorkin and @Brandon Turner said to repost all questions to promote forum activity so here I am!

I got into real estate like many of you after reading Rich Dad Poor Dad, I attended many seminars and I currently own 2 investments properties. I'm currently 26 years old and I live between Toronto, Canada and Kissimmee, Florida. My properties are single family homes in Kissimmee. Both rented.

One of my properties is worth about $200,000 in today's market and has no mortgages and encumbrances. It's rented for $1300 a month, monthly expenses are $70.00 for insurance and $100.00 for taxes. which leaves $1100 positive cash flow PLUS 100% equity.

Questions:

1. I want to refinance my home so I can get some cash to buy more properties, either a flip or multi family home. I currently have a mortgage broker working on a deal to refinance however I want to know from you guys what you think the best method to do so is? I.e. Cash out refi, heloc, etc.

2. I also wanted to point out that this property is currently in my personal name and not my corporation, however I do want to put the property under my Corporation name. Is a corporation a suitable business entity? I noticed many people have LLC's.

3. How do I change the ownership of my property to my corporation? I'm aware I have to re deed however I'm still not 100% sure how.

4. Should I change ownership to my corporation an then obtain financing?

Thanks so much for your time and all of your help! I love BP and I love Real Estate!

-Neil