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Updated about 6 years ago on . Most recent reply

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10
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Eugene Carelli
  • Philadelphia, PA
0
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10
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BRRR Buying Method (Calling all BRRR'ers)

Eugene Carelli
  • Philadelphia, PA
Posted

Trying to BRRR...

I am purchasing a distressed home with cash from a private investor. I can purchase it under my personal name or through my LLC. My goal is to get the home (after the reno and refinance) under a 30-year fixed mortgage UNDER my LLC. How do I go about doing this?

I want to get the asset protection of the LLC but LLC's only allow commercial loans that refinance every 5 years. If I purchase the home under my personal name I can get that 30-year fixed rate but the asset is not protected and anything else under the personal name is at risk. Also, if I purchase it under my personal name and transfer it to an LLC, that will incur transfer tax and may trigger the due on sale clause.

How have other BRRR investors do this (if possible)? Any input would be appreciated.

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