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Updated over 10 years ago on . Most recent reply

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13
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6
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Michael Richardson
  • Rental Property Investor
  • San Diego, CA
6
Votes |
13
Posts

LLC refinancing

Michael Richardson
  • Rental Property Investor
  • San Diego, CA
Posted

Hi BP experts

I'm planning on investing in Louisville, KY Real Estate in the near future. I'm a physician with good income and excellent credit, and I can easily qualify for a mortgage for the types of properties we'll be looking at. However, I want to invest within an LLC that I formed with my father, rather than having myself listed on the mortgage. I'm doing this to protect my personal assets from potential future lawsuits. I know this can cause an issue in obtaining mortgages since it's a brand new LLC. What about doing this in reverse? I can come up with enough cash to buy the property myself. Could I then refinance within the LLC, or would I still have to be personally listed on the mortgage? Thank you in advance for any input or past experiences you might be able to share!

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