Palm Springs, CA
Purchase Price: $200,000
Market Price: $250,000
Down Payment: $ 10,000
Monthly Pmnt: $ 1,300
We enter into escrow this coming week
I want to structure it where I can refi and pull money out or line of credit.
1. Do I buy it through my LLC?
2. Do I buy it through myself?
3. Can I pull equity or get line of credit if seller is first position?
4. Recommendation for specific Title Co.?
I appreciate any guidance on this. I want to avoid costly mistakes on how it's structured.
Questions 1 and 2 friend on who you'll be refinancing with...Some lenders like owner occupant deals but there are a ton of investor friendly lenders. And they're all different!
And once you refi the note, the "owner" won't have any position so we long as appraisal is strong. Again, lenders make it break it!
More details needed to answer on how to structure it
but looks like a pretty sweet arrangement if your numbers are correct !