House hack/ BRRRR please help

[Josue Rivera]

Hello fellow investors hope all is well, I am closing on 9/15 on my first rental property which has a basement unit I am planning to move into. My plan is to use the Brrrrr for this property, I want to purchase with a hard money loan under my LLC and then refinance out of the hard money into a long term loan. Ideally I am looking for a bank/company that does not require a seasoning period (one of the lenders I spoke to told me per Freddie and Fannie you must wait a six month seasoning period) . I want to be able to pull my money out of the deal once rehab is complete and do the cash out refinance and get a second rental before the end of the year. My question is How would you guys go about it ? One investors mention I can get buy with hard money complete the rehab then I can sell the property to my self .. can you this be done since is a different entity buying the property ? Please help some many questions..

Ps: just started reading the BRRRR book @David Greene but also wanted to hear from those experienced investors who  have successfully used the brrrrr strategy.

Thank you in advance.

Be blessed

Josue Rivera 
 

[Kris L.]

@Josue Rivera

I don't think you can do a Fannie Freddy on an LLC owned property. LLC owned requires a commercial loan I believe.