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Updated over 2 years ago on . Most recent reply
HELP! 1st investment. LLC or personal. No Tax Returns.
We are about to purchase our first investment property using the BRRR Method. We would really appreciate any advice from experienced investors on refinancing. Should we purchase under our personal names or open an LLC? When we refinance the rental, we don't want it to be based on our tax returns because we wouldn't qualify. Please help! Thank you!
Most Popular Reply
Poke around the forum as the LLC question comes up over and over again... In "general," you don't really need it --- in very short.
For your question, if your income won't support a loan, then you really need to find a good deal that has sufficient rent/income to support a DSCR loan.
You are asking about refinancing. How are you making the purchase in the first place? cash?