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Updated almost 10 years ago on . Most recent reply
Commercial Refi
I am new to REI but am interested in the Buy-Renovate-Rent-Refi approach. I have an LLC and we just closed on our first property last week (cash purchase). From having a short discussion with two different banks, I found out that if an LLC owns a (residential) property I have to go the commercial route to refi. Is this true with all banks?
Is it generally more difficult to refi using when an LLC owns the house vs. an individual?
Any advice on how I can strategically set this up where it would make refinancing my properties easier?
Thanks!
-Nate
Most Popular Reply
The lenders will look at the financial capabilities of the LLC's owners and will want them to personally guarantee the loan. Good luck.