Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago on . Most recent reply
Moving properties to an LLC to avoid hitting property limit
Hello,
I have 6 investment properties overall and am having difficulty obtaining a-line of credit on one of them because of the banks’ limit on how many rental properties you can have to lend to you. I am in the process of moving them to an LLC, but I also want to NOT appear on m credit report.
Do I have to refi under the LLC? Would that work in making them “disappear” from my credit report?
Thanks,
Tarik
Most Popular Reply

Who owns them has nothing to do with your loan count with the lender.
You could transfer them into an LLC and STILL be limited in your ability to get a loan because the loan is still in your name.
The only way to get rid of the loan would be to pay it off, consolidate loans to 1 property to lower your limit, or get a commercial loan in the business' name. Otherwise, you should be able to go up to 10 loans through conventional methods.