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Updated over 6 years ago on . Most recent reply

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Jim Tinker
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selling my home to me

Jim Tinker
Posted

Background:  I own one rental property.  My current house I will, once I find my next home, rent. 

The house, current house I want to rent, has 90% equity.

Question: Can I sell the house to a LLC, my LLC that I will create?

Goal: Because I would sell it to the LLC, and use the money to pay the 10% remaining balance and use the rest for my next primary residence.

Why? My tenants will pay my mortgage for my primary residence. 

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