BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 5 months ago on . Most recent reply
Refinanced my first BRRRR but bank will not let me put it into an LLC
I just completed my first rehab on a distressed property I have bought. I just completed a cash out refinance on the property but now the bank tells me that I am not able to put the property into an LLC. Are there any work arounds to this? I don't really want to rent this property without having an LLC just in case anything does happen. What should I do?
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River Sava
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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River Sava
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- USA
Hey Nevin -
Have you looked into DSCR loans? LLC's are welcomed, no DTIs, and less paperwork...happy to connect.
Also check out this BP article that explains how DSCRs play into BRRRRs:
https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...