Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
6y
@Prashant Sheth this is one of the issues that always comes up when people try to "BRRR". The cash out refinance always has a higher interest rate compared to an initial purchase because from the lenders perspective there is an added element of risk. You can factor that into your numbers and if the deal still works then it really shouldn't matter that much.
I do not think you can sell a property to another LLC you own, but I am not an attorney or a lender. Banks know who owns your LLC, and they know you are still the owner. They require you to give them your corporate docs, so you won't be able to pull that one most likely.
Rental Property Investor · Washington, DC · Member since 2015 · 429 posts · 393 votes
6y
@Prashant Sheth
I’m neither an attorney nor CPA, but in my experience I have moved assets, including real estate, among various business entities, trusts, etc. In my experience, if you own both LLCs, then you’re not “selling” anything. You would be transferring the asset (and Title), and basically just taking money out of your right pocket and putting it into your left.