HUD property contract with company or personal name?

[Jennifer Quigley]

Hi everyone! I'm considering purchasing a HUD property as a rental. Unfortunately, I only have an SCorp at this point, which I've used for investments turning around in less than a year. What should I put on the contract, my company name or my personal name? I assume I can switch something later to an llc. I'm investing in Maryland, and my SCorp was setup in Nevada to do business in Maryland. Thanks!

[JR T.]

Your easiest path to acceptance with HUD is to buy the property in your personal name. HUD is very picky about entity buyers, they take time to vet them thoroughly to identify everyone involved and make sure there's no collusion taking place in federal housing sales. All that time is time you could be getting your offer accepted and getting the property off market. Maryland has made it easy and cheap to transfer the property into an LLC after purchase.