BRRRR and Holding Properties in a LLC

[Alex Huang]

I am having some problems with the BRRR strategy, particularly with having my first property in the name of a LLC.

It seems that the banks in my area won't (can't?) refinance the property unless it is under my personal name. Since it is held under the name of a corporation, then it has to be done via commercial loan. Is this standard?

If it is, would I be better off transferring the title back into my personal name so that I can do a standard refinance? Or are there any loopholes or counter-strategies to get around this?

Thanks!

[Aaron K.]

If you are using conventional financing there are some lenders that will allow you to purchase in the name of the LLC if you and anyone else applying (like a spouse) are the only shareholders. I know one in California but not in Ohio unfortunately.