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Updated about 5 years ago,
LLC 'loans' and BRRRR: avoiding seasoning period cash out refi
Purchasing with cash+rehab from a 'loan' from your LLC (filed with the county court), can you (re)financing using conventional mortgage, pay original loan and retain the overage? Ex: Purchase price $50,00 + Rehab $25,000 = $75,000 all in . ARV $120,000 @ 80% LTV financed = $96,000 - $75,000(LLC 'loan') = $21,000 If the bak pays the lien ($75,000) can you receive the difference cash out before a seasoning period? Or just find a loan product with no seasoning period?