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Updated over 5 years ago,
Lenders, first time LLC owners, and first time BRRR
Help! We are currently under contract for our first BRRR property. We recently established our first LLC to start putting our rentals into (we currently have two other SFR) but lenders don't seem to like the idea of lending to a LLC instead of our personal names. We were told by multiple lenders that in order to refinance, the property cannot be in an LLC. Does this mean that we have just not found the right lender yet? Or is there a way to make our LLC more trustworthy through establishing credit with a business card first? And if we do transfer title into the LLC after closing, can we transfer the name on the loan to the LLC or just the title? I would love input from any experienced BRRR investors out there.