Hi everyone, Question - If I were to purchase an investment property through my rental property LLC using a DSCR loan, can I rent the property from my own LLC (would live there while updating the property)?

One important advise - assuming you put the property under an LLC - is to have the bank account for that LLC where money comes in and money comes out, to make everything simple.

I have a unit in Greenville NC, under an LLC completely paid off.

I had an accidental chargeback that the tenant had reversed at Amex because his mother did not recognize the name of my LLC. 

This would be very much like a borrower having the property rented at break even.So in short, a LO simply saying "he wouldn't finance" without running full credit and verifying income would be short sighted, in my opinion.July 3, 2022To Whom It May Concern,On November 14th, 2018 one of our holding LLCs, [LLC Name Redacted], entered into an agreement for sale on the property at [Address Redacted].

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = $2300/$1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

If your property was owned by an LLC it would be easier to convince tenants or hide your role, but as your primary residence its probably in your own personal name. 4.

We are buying the building itself, furnishings etc not transferring their Llc.

I have set up a holding LLC in WY and plan to put my CA and TX entities within the holding LLC.

You will have to put them all into a single LLC a week or two before closing, ideally they are geographically close together.