Hi BP. I have rental property that is owned in a LLC and I'm going to transfer it into my name so I can refi. The rental income goes into my LLC bank account. My question is when the bank looks at granting me the loan do I have need to show rental income in my name or can I show them the bank statements from my LLC?
@Mel Hayes You don't have to transfer the property on your name before the closing. You can do it at the closing or during the application process. The lender will count the rental income from your tax return.
@Mel Hayes a a few unconventional lenders in Los Angeles would lend on LLC without having to transfer into your name.