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Updated over 3 years ago on . Most recent reply

User Stats

3
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1
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Connor Coyle
  • Rental Property Investor
  • Philadelphia, PA
1
Votes |
3
Posts

LLC and DTI issue need advice pros and cons

Connor Coyle
  • Rental Property Investor
  • Philadelphia, PA
Posted

So purchased a duplex owe about 190K on the property had it for a year things are going well me and my family live on one side of the property currently! I have other equity % in other property threw investing with a syndicate basically! I went to get approved for another mortgage but my DTI was to high! So my question is could I possibly transfer this current duplex I'm in into a LLC on a refi and also add the other properties I have equity in into that same LLC and if I could do that would that then clear my personal DTI problem when I am looking to get approved for a single family home and also going forward purchasing other investment properties ! Hope this makes sense asking for a friend also what are the other pros and cons of opening the LLC for my situation !

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