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Updated about 1 year ago on . Most recent reply

User Stats

23
Posts
7
Votes
Alice Goodson
  • Rental Property Investor
  • Huntsville Alabama
7
Votes |
23
Posts

Not NEW but Green! Can I purchase my personal property and put it into my Rental LLC?

Alice Goodson
  • Rental Property Investor
  • Huntsville Alabama
Posted

First posts so here we go! Question: Can I purchase my daughter's personal property and put it in our LLC inventory if she is a partner?

1. I have already established a Rental LLC with 4 rental properties and +8 Acres of land free and clear (Alabama);

2. I have a property 100% paid off (personal property) that my daughter was living in; 

3. Want to purchase it into my LLC inventory using DSCR. (DSCR = 4.59) for the portfolio [Annual Net Operating Income / PITI]; and

4. With such a high DSCR what kind of interest rate and/or down payment should I expect?

5. Does anyone have a recommendation on a company that can complete this process within 30 days?

Look forward to collaborating with you all.

  • Alice Goodson
  • Loading replies...