Refi out of Hard Money Loan LLC issue

[John Menton]

I'm noticing HML's in my area only lend to your LLC. My question is, how would one refi out of the loan if using BRRR method? I'm not sure it would be possible to get a conventional refi in your own name if the property is currently owned by your LLC. Anyone else have an issue with this?

Current situation: Looking at purchasing a duplex with hard money, would like to cash out refi and hold onto property once renovations are complete.  

[Andrew Postell]

@John Menton this is a very common area of discussion. The normal process here is to transfer from your LLC to your name if you wanted to refinance into a conventional loan. You can absolutely refinance after being on title for 1 day. Where it gets confusing is that a bank may have an "overlay" requiring your name to be on title for a certain period of time. Overlays are common with larger banks so just call around to banks in your area to run this by some lenders to see if they can lend in this scenario. Often times your hard money lender will know a couple of lenders. Focus on the smaller to mid-sized banks. Feel free to ask more questions if you need. Thanks!