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Updated about 7 years ago on . Most recent reply
Seasoning requirements for cash out refi on an LLC loan?
Hello everyone. I'm trying to do my first BRRR deal. Bought the home 6 months ago, did the rehab, and it's now rented and cash flowing. Based on the ARV, I should be able get cash out at 75% LTV.
I spoke to my first lender and was told I need to quitclaim the home into my name, wait 6 months to season, then do the refi.
That sounds wrong to me.
Can I just keep it in my LLC and do the refi there?
Any other tips for a BRRR newbie?
Thanks.