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Updated almost 7 years ago,
BRRRR Investing - Multiple Deed Owners, Single Mortgagor
Hi BP,
Still a newbie here, and forgive me if this question has been answered in the past. I have an LLC with a 50/50 partner where we have bought an OOS duplex, and about to start the rehab portion of the BRRRR strategy in a couple of weeks after the existing tenants vacate the property. Looking forward, we are planning for the refinance portion.
My question is: If we keep both our names on the deed, will a lender force us to have both names on the refinance? Or are we able to have just 1 partner on the refinance and continue to have both partners listed on the deed? We're ultimately trying to split the number of mortgages so we can max out at 10 mortgages in each of our names.
Thanks guys,
-Chivas