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Updated over 6 years ago on . Most recent reply
BRRRR Strategy Question
I paid cash for a home in my the name of my LLC. I'm going to use zero interest credit cards and my HELOC to rehab it. I want to refinance into a traditional mortgage in order to pay off my cards and HELOC and go after the next house. I've been told by a mortgage broker that I won't be able to get a traditional mortgage in the name of my LLC. It has to be a personal loan.
Is there a way to refinance and keep the home in my LLC and not my name?
If I put the loan in my name, would that be considered a sale? In other words, would my LLC have to pay capital gains tax?
How do people normally use the BRRRR strategy? Do you normally just put the properties in your name to begin with?