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Updated over 8 years ago,

User Stats

43
Posts
4
Votes
Chris Davis
Pro Member
  • Investor
  • Springfield, OH
4
Votes |
43
Posts

Commercial loan for LLC with no seasoning issues to cash out refi

Chris Davis
Pro Member
  • Investor
  • Springfield, OH
Posted

Hello fellow BP's. I have a question, I am seeking to purchase 2 single family houses. The first property is valued at 45K and currently rents for $600 per month. The second property is valued at 35K and currently rents for $500 per month. I have two questions, first I can purchase these properties at a good discount 25K for both houses. Second, I would like to buy under my LLC (commercial loan), then cash out refi (within 1 month) based on the appraised value not the purchase price. Is this a possible scenario using my local credit union. Insight greatly appreciated!!

Thanks in advance.

  • Chris Davis
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