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Updated about 8 years ago on . Most recent reply

User Stats

29
Posts
5
Votes
April Benard
  • Real Estate Investor
  • Houston, TX
5
Votes |
29
Posts

BRRR Strategy- Refinancing with a LLC vs. Personal

April Benard
  • Real Estate Investor
  • Houston, TX
Posted

Using the BRRR strategy, will I have any issues refinancing if the property is assigned to my one-member LLC instead of my personal name? The LLC is less than two years old so I'm 100% sure I will need to use my credit to refinance. Will banks refinance under these conditions. Can anyone provide any insight on this potential issue?

Most Popular Reply

User Stats

29
Posts
5
Votes
April Benard
  • Real Estate Investor
  • Houston, TX
5
Votes |
29
Posts
April Benard
  • Real Estate Investor
  • Houston, TX
Replied

@Torey Owens I decided to use Mobiloil Credit Union. They financed 90% loan to value. Since this was considered a commercial loan I don't have the best terms but not bad at all. 

4.99% on a 15 year loan with a balloon payment at 5 years. Their process was very simple and expedited.  If the loan is not paid off at year 5 I will refinance. 

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