All Forum Posts by: Joseph Jacoway

I know an LLC/Corporation is considered a living entity that can buy and hold real property. By that definition can an LLC obtain an FHA mortgage? I doubt it but want to be sure. What about a conforming loan or do LLCs only have to get commercial loans for residential property?

What Im looking to do is purchase a property to hold for a max of 2 years. I would use private money to buy the property and then refinance it in 6 mos to a year. Is that possible? The LTV on this particular property Im looking at is about 65% if I get it at the price I want.

Ive read up on land trusts as a way to transfer property ownership without it being publicly recorded so the bank wont know and not trigger the DOS clause. Basically you set up a land trust with you and your LLC as beneficiaries and then drop yourself leaving the LLC and when that gets recorded its not public so the bank doesnt know.