Best way to buy property from my self, kind of.......

[Rob Sasser]

I recently purchased a sfr with cash through my s-corp. I am an industrial machinery contractor and had enough cash saved up in my business account to do this.  I bought with cash this way so I could act fast and try to secure a better deal.  Now I am going to rehab the property and rent it out. I then want to take a personal mortgage out for the new value and buy the property from my business. This way all the money I paid for the property and he rehabbing goes back into my business account and I can do it again.  The numbers on this one look like this:

Cash purchase - 75k

Rehab - 20k

Mortgage for new value -120k

So I will take a shareholder distribution out of my company for the 20% down on the mortgage which would be 24k. So in total I will have spent 119k out of my buisness account, all of which will be put back in when I secure my mortgage. So really I get a house that cash flows for no net money down. My question is what is the best way to get the property into my name.  Should I just do it conventional like I have described here, or could I transfer it into my name personally and then refinance it?  It would be best if I could find a way to just refinance it and then pay my business back.  That way I don't have to wait to raise the capital for the down payment.  I have the cash for the purchase and rehab but it would probably be a few more months before I could comfortably take out the money for the down payment. And of course I want to do all this as quick as possible so I can repeat. Any ideas?