Brrrr 4 plex from LLC to Personal name

[Dominic Watler]

Hey guys and gals.

I’ve been in real estate for exactly 1 year and have flipped 2 properties so far with one more about to go on the market.

I am currently renting and own no homestead.

I have a 4-plex in central next with lake views that I am getting ready to refinance and use as an AirBNB that will be my first BRRRR.

PP: 225k (private partner funded)

Rehab: 225k (hard money)

ARV: 600k

The property is currently owned by my LLC.

My dilemma is with the refinance.

So far the only 30yr DSCR refinance on investment property I have found is with hard money lender at 8%+ interest, 75% LTV. 

My credit Union that my personal and business accounts are with recommended to me that I could put it under my personal name as my primary residence with 80% LTV at 6.75% if utilities are in my name.

I've also heard chatter about a FHA refinancing on Facebook forums, but I don't know how much merit there is there.

Since this is my first rodeo, I'm not sure what the right move is. Pulling 30k out of the deal and saving on interest really does sound good, but I'm hesitant on having liability for a STR.

Any advice or insight would be very appreciated from the vets.

[David M.]

@Dominic Watler

Well I think it’s still a residential policy… but his point is be careful by taking your “trivial” you don’t invalidate your insurance policy…