Updated about 7 years ago on . Most recent reply
Decided to keep a house i was rehabbing in my LLC
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.