Transferring from LLC to personal

[Tae C.]

Hello all,

It took looking into my first real potential brrrr property in detail (under contract now, deciding between flipping or brrrr) to finally realize this dilemma, and would love your input. 

Basically, I am purchasing through my LLC due to my HML only lending to a business entity. The problem is, as many of you know, the only way to really get a property financed while under an LLC name is going commercial (or sticking with H/PML at even higher rates) - which means not nearly as ideal of rates and terms as a conventional - really hurts the cash flow it seems. So, I would like to explore switching the property title from my LLC to my personal name. Some questions:

1.) will a typical real estate attorney easily handle this type of switch? Any costs/penalties other than attorney fees?

2.) how do I even make this happen while still under a HML's loan, again assuming they won't lend to personal/individuals? Is there no way around but to just refi into a commercial loan to pay off and get out from under the HML, and only then being able to switch property title from LLC to my personal...then finally refi AGAIN to conventional? Lots of closing costs in this scenario...

I may be missing something very simple here...if so, please let me know as I obviously have much to learn. 

Thank you!

Tae