Best Way to Pull Money From These Properties

[Sam Brock]

I'm a contractor and currently building two houses on two lots that I own outright. The goal is to keep these for rentals.

I currently own the land personally and am funding the builds with a combination of HELOC and cash - no bank debt tied to these properties specifically. Once completed, the goal is to get them rented and then pull money out of each house to build a high performance spec. My property holding LLC would ideally own the land/houses and manage the rentals once completed.

When they are complete, I will have about $375K in each build and they should appraise around $675k each. My goal is to get back my $750k, pay off the high interest HELOC, and get another $200k or so out of them. Appraised value of $1.35m and looking to finance $950k.

Questions:

1. How does the transaction work between me personally and my holding company LLC? Unw do lenders view this?

2. What type of loan products would be available for an LLC buying a house? Can you do DSCR? All-In-One mortgage? Traditional mortgage?

3. How would you attack this deal?