All Forum Posts by: Bradley Perry

Is there a way to get a HELOC on a rental property that is in an LLC?

I am currently under contract to close on a duplex house Hack. At closing my thought is to deed this into my LLC. The reason for this would be so when I go to purchase my next property the banks won't add the duplex onto my debt to income. I realize there could be a possibility of due on sale clause. Is there anything else that would be a factor since this will be a primary home loan.

So, I just purchased a lake house as a vacation home. I put 35,000 down. I am renting it through Airbnb and VRBO. The appraised value is 18,000 more than what I paid for it. Since then, I have done some work that I believe would drive the appraisal up at least another 5,000. Would it be a bad idea for me to get my capitol back up by doing a cash out refinance to reinvest? 

Is it illegal to run a AirBNB and change the address on my drivers license to that address so I can save on taxes? The state is South

Thank you both for the input!

I want to separate the vacation home from my personal assets. My plan is to still have STR insurance, as well as umbrella insurance.

I am under contract to purchasing a vacation home and I think I need to quit claim the home to my LLC at closing. Is that the right thing to do? Will the loan company find out if I quit claim? Do they care?