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Updated over 4 years ago on . Most recent reply

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BRRRR with a twist, a little guidance please

David Gillentine
Posted

So this is a fairly simple situation, but need some clarification on the financing. We are closing on a house that I'd like to keep as a rental. Its contracted in our LLC name. We are paying cash. Our local bank is lending rehab money and will make a note. We typically make our rentals on a 15 amort, but I need this one on a fixed 30 in order for it to cashflow and favorable rates. Do I need to put that house in our personal names for the refinance, or shop for a loan that can be held in our llc. Amount to finance will ultimately 110k on a 150K house. Structure advise is welcome to include refinancing banking suggestions. Thanks.

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