Deeding from an LLC to an individual
Hello BP,
Can someone please layout the process to deed a SFH from a LLC to an individual?
I am looking to work with a private lender and they can only lend to an entity. I have a LLC but only use it for a vacation rental. My intention is to buy some SFH and rehab then refinance them through Fannie Mae to take advantage of the rates and 30yr amortization.
Thanks for the help!
Bill Gulley
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
Hi, you're going to need to get with an attorney, because;
You can subordinate collateral to an LLC and the loan can be with the LLC, but you must remain in title so that when the LLC lien is released you can qualify for refinancing in the secondary market, sorry, but you need to see an attorney, you and your lender friend! Good luck :)