BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 4 months ago, 08/05/2024
Anybody using a LLC with a business line of credit to BRRRR?
I am looking to do my first BRRRR that I do not live in as a primary residence. I have successfully rehabbed two homes and provided over 120k in equity from them. My idea is to form an LLC with my partner to qualify for a 100k business LOC with our credit scores (both 700+), our DTI ration, as well as my equity. Does anyone have experience doing this? I am also a real estate agent now who will be able to buy and list my own properties..
I would like to BRRRR if it makes sense on the refi to pay off the LOC, or sell for a quick turn around.
Thoughts/suggestions?
TYIA!