Multifamily refinance for new build under LLC

[John Perry]

We build fourplex properties in Nevada and are changing our strategy from build to sell to build to hold long term. For the construction we use hard money and self fund. At completion we would like to refinance using traditional financing options, but need to leave it in the LLC as we have a lot of these properties. I have read dozens of post on here that suggest strategies such as financing as individual and then quitclaim back to LLC. There is of course risk with this. We have talked to several lenders and are not finding any good options. We are meeting with some community banks this week but other than that do not know where to look. Any ideas?

[Kevin Romines]

You can refinance using a Fannie Mae loan in your personal name and then transfer title to an LLC that the borrowers on the loan are the majority members of the LLC. Fannie Mae changed this rule back on 6/1/2016, and it will not trigger a due on sale clause now. See the guidelines below: