Updated over 8 years ago on . Most recent reply
BRRR Strategy- Refinancing with a LLC vs. Personal
Using the BRRR strategy, will I have any issues refinancing if the property is assigned to my one-member LLC instead of my personal name? The LLC is less than two years old so I'm 100% sure I will need to use my credit to refinance. Will banks refinance under these conditions. Can anyone provide any insight on this potential issue?
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@Torey Owens I decided to use Mobiloil Credit Union. They financed 90% loan to value. Since this was considered a commercial loan I don't have the best terms but not bad at all.
4.99% on a 15 year loan with a balloon payment at 5 years. Their process was very simple and expedited. If the loan is not paid off at year 5 I will refinance.