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Updated over 7 years ago,
BRRRR strategy using Re-fi into entity/LLC?
So I have been wondering, I recently listened to a podcast (I can't remember the specific show) and the guest on the show had done the BRRRR strategy over and over again and within three years he had close to 50 units under his belt. He basically said that he was Buying, Rehabbing, Renting, Refinancing and Repeating (BRRRR Strategy) as his main focus.
The guest also had stated that he was going to local community banks and credit unions to get the refinance done which actually made a lot of sense to me.
My question however (something he didnt talk about during the show) is, how when you refinance do you get the property title, ownership, etc. out of your name and into an entity's name such as its own LLC? This has been the most confusing part because I know that legally you are not allowed to have more than 10 conventional loans against any individual at one time. The guest had also stated that he did not use private money because this strategy fit better into his values.
I'm looking at this from an asset protection standpoint obviously, but it's something I have been wondering about and can't seem to find any hard information on the subject.
Any help is greatly appreciated! thanks in advance!!
-Anthony