Updated almost 9 years ago on . Most recent reply
Can I purchase from my LLC?
Ok weird question everyone, but I made the mistake of purchasing the last house into my LLC. So now I'm only qualifying for commercial type lending when I still can get more Fannie Mae loans (lesson learned)
Transferring the title from my LLC to my own name will take about 6 months to season before I can do a cash out refi. I have 85k tied up in the deal. So I want to get it out to re-invest.
Can I purchase the house in my own name, from my LLC, using a lender 30 year fixed rate financing?
Assume i sell it for fair market price, and with 20 percent down, pay title insurance, appraisal etc. will a bank allow this?
If not, am I able to sell the house to my Dad, who is not affiliated with the LLC in any way?