Refi/LLC
Looking to Refinance my current home.
Questions:
How do I put it in an LLC? I'm guessing during a Refi may be a good time to do this? Yes/No?
Also I plan on making it a rental but I will be living in it another 2-3 months, will this effect anything with it being an LLC?
Any input/opinions are appreciated!
Optional input:
I owe $154k, Comps in my area are $335k so I do have some equity built up.
Currently my mortgage is $1290 5%interest
Talking to the bank about a refi and pulling $20k this would make my payment roughly $1025.. and 3.875%
Rent in the area is $1600
I would like to purchase another property of course and rent it out as well.. Inputs on what you would do yourself, pull more money? or save off of the larger monthly returns on the single property?
I hope this somehow made since.
Thank you all!
Joshua