All Forum Posts by: Jason Josey

Looking for recommendations on legitimate, truly worth the time, REI conferences to attend in early 2022. Geared toward single family -or- multi family residential. Any advice is appreciated. Thanks!

Jon Reed, 

Thanks for the advice. The purpose of transferring it to our personal name was two-fold; 1) to get a better LTV & 2) to get a better interest rate. Commercial rate would be around 4.5% 30yr, while personal is at 3.25% 30yr. Point taken though because that does not equate to a huge difference on this particular property.

Hi all, I remember hearing a BP Podcast about refinancing properties, there was a comment made about refinancing out of an LLC that you own - as long as "your arms length away", but this method was not expounded upon.
My lender will only refi 65% of the purchase price/apprised value (whichever is less) if we own the property less than 1yr, and 80% LTV after 1yr of ownership. However, I'd like to refinance out of this property immediately with as much of my cash back as possible; here's the question; How can put the property in an LLC I own at the initial purchase and still be "arms length away" enough so that the bank will allow me to refinance/buy out the property at a higher LTV into my personal name?
Any advice is very much appreciated! Thanks in advance!