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Updated about 7 years ago on . Most recent reply

User Stats

113
Posts
34
Votes
Bradley LaBrie
  • Real Estate Agent
  • Davison, MI
34
Votes |
113
Posts

Househacking, LLCs and refinancing

Bradley LaBrie
  • Real Estate Agent
  • Davison, MI
Posted

I'm sure this is a common question with house hackers, but I currently have my first multi unit in a rehab. I have an LLC set up and my question is twofold. 1) I understand putting this property into the LLC could trigger the due on sale clause, but my mortgage says it will allow "under certain circumstances" the transfer to another person. For a 4-unit owner occupant should I put it in the LLC or wait until I refinance? And 2) I have heard there are challenges to refinancing with a bank under an LLC? How do you guys do this?

Also any tips as I wait to refinance this property?

Thanks!

  • Bradley LaBrie
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