Going on Title with family member repercussions

[Brett Hearn]

Hello out there,

General question for you all. What are the repercussions for me going on the title of a SFR which my father owns with no debt on the property (currently appraised for 175K. The plan is to fix it up in 3-4 months and cash-out refi for 75% of the appraised value.

I was told that any notary can come and put me on the title with my father, but Title company won't get involved? why?

Also, the financiers said that I need to be on title for at least 3 months in order to do a cashout.

Ultimately, what are the repercussions for me going on title with my father now, as he is still alive? Will it effect a potential sell of the property in the future.

Number breakdown:

Appraised for $175K

Rehab:              $30K

ARV: $230K

75% ARV= Cashout $174K

Put property into a 30 fixed at 5-6% and have a loan on property.

Any kinks in the plan?