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Real Estate Deal Analysis & Advice

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Daven Mody
  • Investor
  • San Jose, CA
2
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20
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Cash out Refinance

Daven Mody
  • Investor
  • San Jose, CA
Posted Jan 7 2014, 10:15

Hi there-

My brother and I purchased an investment property in April 2013 for $185K, and put down 25%. After closing, we transferred the property title to the LLC's name. The current mortgage is under my brother's name, but the property title is in the LLC's name. Since then the property has appreciated and we would liker to pull some of the equity out to purchase another property. Are there any banks that will refi our mortgage if the title is in the LLC's name? Should we transfer the title of the property back to our names and then do a cash out refi? Will that trigger any tax consequences? Sorry for the long list of questions :-)

Any help is greatly appreciated!!

Daven

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