Buying a house from my own LLC
Hello all,
I've seen a several posts regarding this topic; however, I wasn't able to find anything posted recently and/or I'm seeing mixed answers.
I'm a real estate agent and house flipper in Columbus, Ohio, and I want to know if I'm able to purchase a house flip from my single-member LLC as a primary residence using conventional financing. Speaking with different lenders, I haven't been able to get a straight answer..
bit of additional info-
-using my wife's w2 for conventional loan
-from what i read on Fannie Mae's website it seems like it would acceptable if it's a primary residence.
-don't want to transfer the deed to my personal name THEN refinance for accounting reasons. Also, it gets more complicated if i use hard money on the initial purchase of the house.
Thanks in advance for your help! Knowing the different options I have for exit strategies on properties helps determine how I'm going to structure deals.
Will this help? https://www.biggerpockets.com/...
I am in the same boat kind of sort of!
@Sean Ku Unfortunately, no..i would want to separate it from my llc because it's going to be my primary residence, and I would want the deed to be in my wife and I's name.
Kinda late to the party but Chris did you ever get this resolved?