Refinanced my first BRRRR but bank will not let me put it into an LLC

[Nevin Wilkie]

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?

[River Sava]

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-...