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Updated about 7 years ago on . Most recent reply

User Stats

87
Posts
27
Votes
Dewain J.
  • Investor
  • Philadelphia, PA
27
Votes |
87
Posts

Decided to keep a house i was rehabbing in my LLC

Dewain J.
  • Investor
  • Philadelphia, PA
Posted

I recently purchased a property in my LLC that I did such a great job on it that I decided I want to keep it for myself lol.


Initially the plan was to do the normal BRRRR. I was going to rent it out and refinance out of it to pay myself back and my hard money loan off.

Now I am trying to figure out the best way to get it in my personal name so that I can get a personal loan on it and keep it. I'm not sure what is the best way to do this without causing myself pain from a tax standpoint. 

In terms of profit, this project actually ran over budget, and there won't be any true profit in terms of ARV vs all in costs.

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