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Updated about 7 years ago on . Most recent reply

User Stats

18
Posts
11
Votes
Jason T.
  • Wholesaler
  • Charlotte, NC
11
Votes |
18
Posts

Seasoning requirements for cash out refi on an LLC loan?

Jason T.
  • Wholesaler
  • Charlotte, NC
Posted

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.

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