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Updated about 5 years ago,
Best way to refinance SFRs in a partnership context?
Hi you guys, my business partner and I have purchased and rehabbed 2 single family homes and now it’s time to refinance.
What’s the best approach? Conventional mortgages in our personal names? Commercial mortgage?
Any info is much appreciated!
Thank you!
PS: our initial idea has been to get conventional mortgages in our individual names, then quit claim them into an LLC in which we're 50/50 owners. Then, once we have more properties, get some sort of commercial loan for the entire portfolio. Good idea? Bad idea? Most importantly—why?