In the past, we knew of no bank that would let us, investors, refinance rental properties in the name of the LLCs. It used to be such a pain to have to take them out of the LLCs into our individual names, refinance, and put them back into the LLCs.
We even had a situation where a bank had promised to put it back into the name of the LLC after refinancing, only to find out a year later – by accident – that this was never done. In other words, we were assuming higher risks in our personal names and didn’t even know about it. We were lucky that nothing drastic happened during that period.
We put up with the pain of this traditional process of refinancing nonetheless, just so we could get lower interest rates.
Fast forward to a few months ago, almost by accident, we found a bank that would let us refinance without having to take them out of the LLCs – KeyBank.
Contact Mr. Kyle M. Miller at (734) 330-7407 or kyle_m_miller@keybank.com but only if you are serious. Available only in states where KeyBank operates.
Happy investing!
