Financing/Refinancing All-Cash Foreclosure Auction Post Purchase

[John Smith]

BP Forum,

I'm purchasing a SFR property at an all-cash foreclosure auction through an LLC (single member, disregarded entity) with the intent of transferring this property to myself for use as a primary residence, and working to determine what type of financing solutions post-auction will be possible and most advantageous for cashing out/recouping cash while providing longer-term financing for the property.

Below is a deal overview, goals for financing the property and pulling out/recouping cash from the initial all-cash purchase, contemplated scenarios, and questions I’m seeking answers to for this situation.

Deal Overview:

• Auction Purchase Price: $1,000,000
• ARV: $1,700,000
• Targeted cash out/recoup cash via financing: $700,000-$800,000 minimum target, how much is possible? (75% ARV or purchase price + closing costs?)

Goals:

• Retain ownership of property as primary SFR
• Pulling cash out/recouping cash as quickly as possible
• Maximizing cash out/recouped cash amount
• Securing the lowest interest rate and fees for a 30-year fixed rate (SFR, primary residence)
• Eliminating/limiting the amount of taxes (if any) from transfer of the property

Contemplated Scenarios:

• Purchase SFR from LLC at auction purchase price with a first mortgage (can this be done as a "purchase" or will this be considered a refinancing with LLC as single member?), potential to leave some (20-30%) or no original cash in deal depending upon cash out/cash recoup limits
• Transfer property from LLC to myself and finance/refinance via any number of the following structures: cash out refi, delayed financing, hard money, HELCO, private money, etc.

Questions:

• Which financing solution(s) will be most effective for accomplishing these goals?
• Can I purchase the house from my LLC and obtain a first mortgage for the property (will lender view as a purchase or refinance/already owning the property scenario)?
• My intent is to finance the property directly under my name to obtain more favorable financing (rates, etc.) rather than financing it through the LLC, is this a correct assumption?
• What lenders are preferred/recommended for these types of scenarios?
• Any specific considerations or pitfalls for the above scenarios?

Appreciate any assistance and perspective anyone can provide on the above scenario and please don’t hesitate if any questions.