Commercial loans for LLC

[Chris Davis]

Hello fellow BP's. I have a question, I am seeking to purchase 2 single family houses. The first property is valued at 45K and currently rents for $600 per month. The second property is valued at 35K and currently rents for $500 per month. I have two questions, first I can purchase these properties at a good discount 25K for both houses. Second, I would like to buy under my LLC (commercial loan), then cash out refi (within 1 month) based on the appraised value not the purchase price. Is these a possible scenario using my local credit union. Insight greatly appreciated!!

Thanks in advance.

[Gerald Demers]

Hello @Chris Davis, this question keeps showing up.  It shows everyone how important it is. 

I don't understand your first question about purchasing discount for both.  

Secondly, you state you want to buy under your LLC (commercial loan). Is your intent to purchase these properties directly into your LLC using conventional financing?

There are some that state you can refy your properties owed in an LLC. I am looking into it but the loan is for several properties, all of them performing and the loan amount will be about 380K. I bought all my properties with private lenders and fixed them up and renting them so they are all performing properties.

There are some who think you can refy the properties individually for small amounts.  You can speak to @Nathan Click about a solution that might fit your needs.  

Gerald Demers