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Updated over 11 years ago on . Most recent reply

Nick Patterson's profile image
Nick Patterson's profile image
Nick Patterson
  • Real Estate Agent
  • from Chicago, IL
  • Member since Sep 16, 2013
Connect

User Stats

386
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218
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Nick Patterson's profile image
Nick Patterson's profile image
Nick Patterson
  • Real Estate Agent
  • from Chicago, IL
  • Member since Sep 16, 2013
Connect
Nick Patterson
  • Real Estate Agent
  • Chicago, IL
218
Votes |
386
Posts
Creative Real Estate Financing

Seller Financing with LLC's

Nick Patterson
  • Real Estate Agent
  • Chicago, IL
Posted

Has anyone done this option for a multifamily.
Since banks will only refi on the purchase price, this is a loophole where you can try and obtain the property no money down..

1) Property is held in an LLC. You add your name to the LLC along with the seller.

2) Pay the seller monthly payments and take control of the property and day to day operations

3) Within a year or two refinance the property and pay off the seller the agreed upon price and take their name off the LLC. So now you own the property 100% with no downpayment.

Thoughts?

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