I am trying to make sure I have my entire plan thought out and covered to minimize as much risks as possible…
Does this sound right or doable to everybody?
- Apply for LLC ( I am in Texas by the way)
- Use business credit cards to purchase NOO property
–don’t want personal info pulled
- Property will be a forclosure 60 to 70% below value
- repair property
- Insert renters
- Refinance with new loan and pull out 80% value to avoid PMI
- Pay off credit cards, put whatever left over to next purchase and start over…
Question 1- what requirements will be looked at when I refinance?? If it is a new company will they want my personal info??
Question 2-If I show the prospective refi lender a lease year long agreement is this sufficient?
Any other tips or hints would be great…Also any Texas related info would be appreciated----exchange of info creates wealth for all involved!!