Putting multi-fam property in business name while holding a loan

[Jason Etheridge]

I am under contract on a 4 unit. What is the process of flipping the property into a business name for write offs and tax purposes?

I’m told if you quit claim the property to a business name for write offs and protecting yourself, that the mortgage company could possibly want to collect the sum of the debt owed

Any way around this or advice?

Thanks,

Jason

[Wayne Brooks]

Transferring title to an entity has Zero effect on any write offs or taxes....it is entirely for asset protection, for those who think it helps.