Buying SFH with cash in LLC

[Eric S.]

In Texas, is it possible to refi out (75%) a single family home that is bought with our LLC?

[David Beard]

Yes, but not with a conventional loan (i.e. 30-year fixed rate Fannie Mae) that is resold in the secondary market, as these can only be made to individuals.

You will have to work with a local bank or credit union, paying a somewhat higher rate and likely having a 5 year balloon note (perhaps amortizing over a 20-25 year period). You'll just have to call around to all the local banks and credit unions. Let them know that you're looking for an in-house investment loans on a SFR for your multi-member LLC. You will almost certainly have to provide financial statements, tax returns, and provide personal guaranties, not fun on the best of days but that's life.

Once you find the investor-friendly bank, move some depository and other business there as well, to help with your current and future loan requests. Then treat that banker like one of the family.