Over four cash out - legal loophole?

[Will Pritchett]

We would like to buy a house with cash in San Antonio and rehab it then cash out some of our capital to reuse on another buy and hold - rinse and repeat. We will hit the four loan limit soon. Any creative ways around this? 

Would it be legal for an LLC or other entity that I have an interest in to buy and rehab the home with cash then sell to me as an individual thus making a cash out unnecessary to access the capital yet acquire conventional financing? Just looking for options to exercise this strategy after four mortgages.

Thanks in advance!

Will

[Nick Disney]

Will,

You can buy and rehab it with cash--get it leased out--and then cash out up to the original purchase price plus the new closing costs as long as that number is less than 70% of the new appraisal--most lenders refer to this as "delayed financing"--send me a PM and I'll give you the contact info of who I have used in SA and I'm sure she can help you out.

Nick