presented by
Contributing property as capital in LLC?
I own a real estate LLC with a partner. He just personally bought an investment property (closing today) and we're thinking about working on it together. Can he "contribute" the property as capital and then take a cash distribution out of the LLC? He used hard money to close and could just pay the loan off right away. Would we use a quit claim for $0? I assume if we use the LLC to buy it would create some tax bills.