Cash out refi personal house or llc properties?

Question

Personal house - estimated value of 500KLLC properties - 13 at 650KThanks for your help

Danielle Rice · Answer

Imo risk the investments, not the roof over your head.

Ruby Bucio · Answer

There are several factors you would need to consider to see which option would be best. For example, the cashout limits on an investment property are typically more conservative than the limit on a primary residence. You typically will see better rates and pricing on a primary residence vs the investment as well. I work for a lender, Cornerstone First Mort, that could help in either scenario. Contact me and we can run the numbers to see which works best for you.

Chase Busick · Answer

@Justin Shupe I'd definitely consider protecting your assets asap no matter what. Especially if you have 13 that are in your name. From a tax and asset protection standpoint, it'd be more beneficial to help protect you and help you save money over the long term. There is inside liability - what can happen at the specific properties, and outside liability -what can happen away from the properties on a personal level if something were to happen to you. There is a lot to consider and can be talked about a lot more. I'd highly recommend learning a lot more about it.

Whether cashing out of your personal home, would depend on a different number of variables - lowering rate/payment, what you are using your cash for - general purposes or buying more assets, cost, etc. Overall there are a lot of pros & cons in considering it and there are a ton of blog posts/videos out there - or you can reach out directly to a lender that can help go over your situation and run numbers.

Chase Busick · Answer

@Justin Shupe Are you trying to figure out which option would be best?

Are you trying to LLC the properties too or are they already?

Just trying to figure out more info & context for what you are considering.

Alex Hunt · Answer

For the personal home, look into a bank for the refinance. Properties under LLC work with a non- QM lender. What are the cashout's going to be used for another purchase?

Justin Shupe · Answer

Yes in which option would be better and  properties already in LLC

Cash out refi personal house or llc properties?

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