We are just refinancing a loan.Here’s how it works: You create an LLCYou buy a homeYour LLC gives you a loan for the homeYou file the deed for that loan at the county courthouseYou use the money from the LLC to buy and fix up the propertyOnce the property is completed, your conventional lender comes to refinance the loanYour conventional lender runs title and sees there is a loan.Your conventional lender refinances you into a new loan, and cuts a check to your LLCâ¦a check in the amount of 75% of the value.Please don't confuse this 75% with a "cash out" amount.

August we broke ground, and should be complete by December. 

If you use the search feature of the BP website, you can find great discussions on this topic.Follow this link to an interesting discussion from just this week!

Main problem is, there is what looks like 1-2 feet of still dark water sitting in the basement ( completely concrete unfinished basement no drywall or flooring).

I cannot say I have completely understood your questions or dilemma.

Refinances are a full fresh complete re-underwrite comprising 95% of the same work/paperwork that a purchase mortgage involves, assuming of course the consumer wants the Fannie/Freddie subsidized rates.

My guess is it's called something completely non-intuitive which makes it hard to find using Google.

Sometimes doing a complete rehab is riskier than just making some quick scratch.

Many people go completely in when they don't have too, thats not what they teach us here at BP.

Cash followed by a 30 year fixed once the property was completed and cash flowing How did you add value to the deal?