Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago,

User Stats

2
Posts
0
Votes
Brett Kent
  • Real Estate Investor
  • Boise, ID
0
Votes |
2
Posts

Four-plex as primary residence, rolling refinance into LLC to vacate post-closing??

Brett Kent
  • Real Estate Investor
  • Boise, ID
Posted

I recently purchased a four-plex in Sept 2014 using my VA loan benefit, and am in the middle of refinancing it under the IRRL offer to reduce the rate. Last week, taking suggestions via the Podcast, I formed a LLC last week here in Idaho and am seeking to roll title and deed into the LLC and out of my name, but it is my primary residence. I thought this would be a prime opportunity to roll it into an LLC given the refi timing. I live there due to the current loan requirement. My goal, after closing, is to vacate the property and move on to another four-plex, since the IRRL does not require owner occupancy as the initial loan required. I'm single with no kids and have the opportunity to move again, getting an owner occupied rate on the next investment. Suggestions? The current broker of the refi says the lender will not title and deed to the property in the LLC's name.

Loading replies...