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All Forum Posts by: Marcus Jimenez

Marcus Jimenez has started 1 posts and replied 4 times.

Thanks Mark! The LLC would be a holding LLC for the property with no real income. Would I be able to qualify for a loan in the LLC name with this set up? I assumed that is why a DSCR loan would be needed, to use the rents for loan approval.

Hell Bigger Pockets Fam, 

I am wondering if it is legal to sell an investment property that I am currently under my personal name to my LLC via a DSCR loan. This would transfer title to my LLC and allow me to technically cash out refi + force appreciation a bit. Curious if anyone has tried this.

Thanks! 

Post: Buying second property

Marcus JimenezPosted
  • Posts 4
  • Votes 0

@Frank Sumser @Lazar Kocev Find the right property with good ARV that doesn't need a lot of work. Get a hard money lender to acquire the property - have planned rehab ready. Fix it up then contact a bank to refi out whatever you borrowed. If you do it right you can spend little to no money at all.

Post: Buying second property

Marcus JimenezPosted
  • Posts 4
  • Votes 0

@Frank Sumser @Lazar Kocev Find the right property with good ARV that doesn't need a lot of work. Get a hard money lender to acquire the property - have planned rehab ready. Fix it up then contact a bank to refi out whatever you borrowed. If you do it right you can spend little to no money at all.