New BRRR strategy reinvented?

[Leo Poon]

Hi BP, I am thinking if a husband‘s LLC purchase a property all cash for 100k. Instead of waiting 6 months to refinance for 80% of ARV to pull the cash out. Can the wife purchase the LLC’s property at 130k given she put 26k down which is 20% down payment and finance the 104k through a Non-QM within 2 weeks of the LLC closed on the property. Thus, giving the LLC back the original investment of 100k, the 4k surplus can go toward covering the closing cost. The husband can also substitute the wife with his family members or friends that he trust if lenders would not lend to the wife because seller and buyer are spouses.

[Jorge Ruiz]

@Leo Poon

Have the LLC give one of you a personal loan to purchase the property all cash. Use terms that just about any bank can beat. File deed in the county the property is in. Then refi that loan with a new mortgage. Not a cash out refi. Then new bank will then pay off the old loan. Hope this helps.