BRRRR: refinance HML to conventional

[Andrew Savage]

Hey everybody. I've dug through the forums and seen only a few light discussions on this issue, which confuses me a bit.

I've read a lot about BRRRR, and everybody talks about buying/rehabbing with hard money and refinancing in a conventional loan. Sounds pretty straightforward. But now I'm going through the approval process and learning that hard money lenders only lend to entities (LLC, corporation, etc) and conventional loans only work with individuals. So it seems impossible to rehab with hard money and refi to conventional. Is everybody either refinancing into a portfolio loan or rehabbing with cash and I've just been mis-understanding?

[Andrew Postell]

@Andrew Savage You already have a good information above but many lenders will allow you to transfer the title from your LLC to your personal name on the day of your closing with your refinance loan. Even if you only have HML's that lend to LLC's this should not be a hindrance.