Cash out refinance under LLC

[Dolphurs Hayes]

Hey I am currently getting closer to closing my first BRRR deal but I wanted advice on how ppl went about the cash out refinance step. Is it tougher to cash out refinance when the title is in LLC? Any tips on how to secure a bank loan under a LLC?

[Jon Puente]

Hey Dolphurs, 

You would need a "Non QM" loan. Most QM mortgages like Conventional, FHA, VA, etc... require the title be in your personal name.

The kicker is that Non QM loans have higher rates because its considered slightly more risky to a lender, so just make sure you calculate 1-2% higher in rate for your cashflow estimates.  

As long as you bought the property undervalue, you should be okay!