Title finance questions

[Norman Johnston]

We are about to purchase our first rental with cash. First question is how to put the title into our LLC when we purchase? Second question is when we go to cash out refinance, will the title stay in the LLC or do we have to put it into one of our names to get the financing?

[Lien Vuong]

Yes to purchase under LLC, that's no problem, just inform your closing party. Secondly, if you want to maintain the LLC protected you will have to do a cash out refi with a commercial lender as anything in an LLC would require that type of loan product and a required statement of income and expenses with the property. You can deed it back into your own names but you will remove the protected but gain the ability to use residential financing.