Decided to keep a house i was rehabbing in my LLC

Decided to keep a house i was rehabbing in my LLC

Investor · Philadelphia, PA · Member since 2016 · 87 posts · 29 votes

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.

0Reply
29 views

1 Reply

Jump to latestLatest
  • Rental Property Investor · DFW, TX · Member since 2013 · 953 posts · 910 votes
    8y

    You need to talk to a CPA and a title attorney to get this straightened out. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.