Advice-Transferring Title in Property from LLC to personal name?

[Willy M.]

Hello all,

I've been investing in real estate for only 2 years and mainly do fix and flips and wholesaling. The advice I am seeking is this; I have 2 fully rehabbed properties listed for sale and have been on the market for more than 3 months and if they don't sell by the end of the year, I am looking to turn them into rentals. The issue I have is both properties were purchased under my LLC and my credit union does not do 30 year residential mortgages, only 15 Year Commercial mortgages. I was referred (by my credit union) to a mortgage broker who informed me that since the properties are owned under the LLC (and not my personal name) they would not qualify for a 30 year residential mortgage. I ran the expense numbers with the 15 year mortgage option the credit union offered me and after all expenses (loan payment, taxes, insurance, utilities) I am cash flowing around $200 per month (without factoring in vacancies, property management or any major repairs). I would much rather have a 30 year mortgage in place for 2 reasons, more cash flow and a lower monthly mortgage payment.

1) Should I transfer the homes into my personal name? if so, how do I go about doing this? What is the downside of doing this?

2) Since I am located in Pennsylvania, do you know of any banks that could offer me a 30 year mortgage on these properties and leave them under the LLC?

If you can give me some direction, that would be greatly appreciated.