Refinancing Property Held by LLC

[Steve Barfknecht]

I believe in the BURR strategy. However, when you acquire investment properties, would it be best to complete the initial acquisition in your personal name rather than the LLC if the plan is to refinance or attempt to get a HELOC on the property in the near future (12-18mos)? Then once the property is refinanced, complete some type of deed transfer to the LLC.

I’ve heard getting a HELOC for a property owned by an LLC is very difficult or impossible.  I currently hold one property in my LLC and would like to be able to re-finance to get the money out in order to put it towards my next acquisition.  I am beginning to believe I should have placed it under my name rather than the LLC.

Any feedback or advice is greatly appreciated.  Thank you.  

[Sean Cassidy]

I use a local credit unions business lending arm, they are pretty solid so far. My rental is in a 3 unit, I had to submit personal finances of course and do a credit check but the fact it's in an LLC made no difference to them.