All Forum Posts by: Christopher Sweeney

So if I buy a property outright and fix it with my own funding (funding is coming from a previous refinance) can I then take my money back out with a DSCR loan? This is the first I've ever heard of a DSCR loan @Andrew Postell

I currently have a property that I am in the process of refinancing to pull money out on a deal I've been working on for 2 years. I have a partner that owns this building through an LLC we formed. My question is how do we / can we buy another property cash, fix it up, and pull out the money again through our LLC? We are obviously both on the refinance loan and I know banks don't like to lend to LLC's on residential properties so how can I use this money with my partner to buy properties and both have ownership? The property would be purchased solely from the refinance money.