Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on .

User Stats

31
Posts
5
Votes
Chris Walsh
  • Rental Property Investor
  • Cleveland, OH
5
Votes |
31
Posts

Refi out of hard money into primary residence home loan???

Chris Walsh
  • Rental Property Investor
  • Cleveland, OH
Posted

Does anyone have any experience refinancing out of a hard money loan into a primary residence conventional loan?   Just finished the rehab and need to refi out of hard money.  The original plan was to buy, renovate and either sell or rent out. It’s in a gentrifying neighborhood on the west side of Cleveland. The thought process would be to put a low interest mortgage since it would be my primary residence, live there for the time being then turn it into a rental.  Lock in a 30 year rate with low interest.  

Would I sell it from my LLC to myself or sell it from one LLC to another LLC and rent from the LLC? I've never seen this discussed and want to know if a lender would go for it. Thanks