REFINACE PORTION OF BRRRR

[Patricia Ferreira]

We are trying to refinance our first BRRRR property our lenders advised us to keep the property under the LLC. Our attorney advised us to refinance into a consumer loan due to the fees being so high for a LLC. We where under the impression that the LLC was more of a benefit incase something was to happen to protect us, she advised us to get more coverage on our insurance policy or umbrella coverage. What is everybody doing, are you using LLC's for commercial loans or refinancing into your personal name.