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Updated over 8 years ago,

User Stats

678
Posts
531
Votes
Tony Castronovo
  • Rental Property Investor
  • Park City, UT
531
Votes |
678
Posts

BRRRR Question

Tony Castronovo
  • Rental Property Investor
  • Park City, UT
Posted

Happy Father's Day! I am putting an offer on a property today and wanted to get some advice. My plan is to leverage the BRRRR (Buy Rehab Rent Refinance Repeat) strategy. I was going to buy the property under my LLC (I am buying cash and proof of funds is listed there). When I go to refinance the bank will want to put the loan in my personal name. So my question is whether this is still considered just a refi or whether I need to "sell the property from my LLC to me personally". Seems silly, but wasn't sure. If I had to do this then I would expect more closing costs. Looking for advice from those that have had similar situations.

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