Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago, 02/28/2017

Account Closed
  • Investor
  • Mandeville, LA
0
Votes |
2
Posts

Selling a home back to your LLC

Account Closed
  • Investor
  • Mandeville, LA
Posted
Dear BP Members, I purchased a home about 1 1/2 years ago from an LLC that I am a member of using a promissory note to the LLC. There are 2 other members of the LLC and the home had no mortgage on it (owned outright by the LLC). I am moving and want to sell the home back to the LLC for the same amount that I purchased it from the LLC for (no upgrades etc. we're done to the home). What would be the best way to structure this deal to get the home back into the LLC and get my principal back from the amount that I've paid down on the promissory note? The members (including myself) would like to take out a mortgage on the property (i.e 30 year since the interest rates are so low) to pay the money owed to me, but wasn't sure if this would even work (not sure how a mortgage company would view the promissory note). Any advice would be greatly appreciated.