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All Forum Posts by: Anthony Prilo

Anthony Prilo has started 2 posts and replied 4 times.

BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Post: How to refinance property out of residential loan into LLC

Anthony PriloPosted
  • Posts 4
  • Votes 3
Quote from @Devin Peterson:
Quote from @Anthony Prilo:

I recently purchased a home.  I would like to use my old home as a rental property, which has a significant amount of equity.  My apologies if these questions are elementary questions.  I am new at this.  Located in NJ.

Is there a way to refinance my rental property from my residential loan into an LLC?

Am I required to have my rental property in an LLC?

Can I couple my residential loan with landlord insurance?  

Any other tips?


Hi Anthony, great question! Percent put your old home into an investment loan utilizing a DSCR loan. Will be able to qualify off of the rent alone without any income or debt to income ratios. You can close in the business name/LLC here.

You are not required to have your investment property in the business name, however, some lenders and bank may require it if they are a purely business purpose, lending institution who servicing companies, mandate commercial purpose only.

And yes, finally you can get landlord insurance.

I recommend shopping around and comparing a few quotes to get started happy to connect to talk further strategy and detail. Best of luck!

 @Devin Peterson thanks for tips! Currently, looking for a tenant now. I will search for a DSCR loans and landlord insurances.

0 Votes
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Post: How to refinance property out of residential loan into LLC

Anthony PriloPosted
  • Posts 4
  • Votes 3
Quote from @Jay Hurst:
Quote from @Anthony Prilo:

I recently purchased a home.  I would like to use my old home as a rental property, which has a significant amount of equity.  My apologies if these questions are elementary questions.  I am new at this.  Located in NJ.

Is there a way to refinance my rental property from my residential loan into an LLC?

Am I required to have my rental property in an LLC?

Can I couple my residential loan with landlord insurance?  

Any other tips?

 @Anthony Prilo   What is the interest rate on your current loan?

@Jay Hurst thanks for reply.  Interest rate is 2.75

0 Votes
BiggerPockets Exclusive PRO Area

Post: How to refinance property out of residential loan into LLC

Anthony PriloPosted
  • Posts 4
  • Votes 3

I recently purchased a home. I would like to use my old home as a rental property, which has a significant amount of equity. My apologies if these questions are elementary questions. I am new at this. Located in NJ.

Is there a way to refinance my rental property from my residential loan into an LLC?

Am I required to have my rental property in an LLC?

2 Votes
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Post: How to refinance property out of residential loan into LLC

Anthony PriloPosted
  • Posts 4
  • Votes 3

I recently purchased a home.  I would like to use my old home as a rental property, which has a significant amount of equity.  My apologies if these questions are elementary questions.  I am new at this.  Located in NJ.

Is there a way to refinance my rental property from my residential loan into an LLC?

Am I required to have my rental property in an LLC?

Can I couple my residential loan with landlord insurance?  

Any other tips?

1 Vote